Nucor (NYSE:NUE) Releases Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Nucor (NYSE:NUE) announced its earnings results on Monday. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37, Briefing.com reports. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.68% and a net margin of 10.45%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.81 EPS. Nucor updated its Q3 guidance to below $2.68 EPS.

Nucor Trading Up 1.7 %

NYSE NUE traded up $2.64 during trading hours on Thursday, reaching $157.43. The company had a trading volume of 159,260 shares, compared to its average volume of 1,468,981. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $37.75 billion, a P/E ratio of 9.29 and a beta of 1.57. The stock has a 50-day moving average of $161.02 and a 200 day moving average of $175.79. Nucor has a 1-year low of $140.07 and a 1-year high of $203.00.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.37%. Nucor’s dividend payout ratio (DPR) is 12.71%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. BMO Capital Markets reduced their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group began coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Finally, Bank of America dropped their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $191.29.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.