Nucor (NYSE:NUE) Releases Earnings Results

Nucor (NYSE:NUE) announced its quarterly earnings results on Monday. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09, Briefing.com reports. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the previous year, the business earned $4.57 EPS. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year.

Nucor Trading Down 1.3 %

Shares of Nucor stock opened at $156.11 on Tuesday. The stock has a market cap of $37.43 billion, a P/E ratio of 9.18 and a beta of 1.55. The stock’s 50 day simple moving average is $147.74 and its 200-day simple moving average is $159.90. Nucor has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is 12.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley cut their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets cut their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, Bank of America cut their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.43.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

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.