Nucor (NYSE:NUE) issued an update on its third quarter 2019 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the Thomson Reuters consensus estimate of $1.06.
NYSE NUE opened at $53.09 on Wednesday. The stock has a market cap of $16.25 billion, a P/E ratio of 6.97, a P/E/G ratio of 0.93 and a beta of 1.62. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40. Nucor has a 12 month low of $46.10 and a 12 month high of $66.03. The stock’s fifty day moving average price is $50.53 and its 200-day moving average price is $54.45.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. Nucor’s revenue was down 8.7% on a year-over-year basis. As a group, analysts forecast that Nucor will post 4.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, September 26th. Nucor’s dividend payout ratio is currently 21.00%.
NUE has been the subject of several research analyst reports. Deutsche Bank cut Nucor from a buy rating to a hold rating in a report on Thursday, May 30th. KeyCorp dropped their target price on Nucor from $61.00 to $60.00 and set an overweight rating for the company in a report on Tuesday, August 27th. Goldman Sachs Group decreased their price target on Nucor from $70.00 to $59.00 and set a buy rating for the company in a research note on Tuesday, June 4th. Citigroup set a $60.00 price target on Nucor and gave the stock a buy rating in a research note on Tuesday, June 11th. Finally, Bank of America decreased their target price on Nucor from $50.00 to $46.00 and set an underperform rating for the company in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $62.40.
In other Nucor news, Chairman John J. Ferriola sold 19,193 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the transaction, the chairman now directly owns 475,921 shares in the company, valued at $26,827,666.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leon J. Topalian sold 5,798 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the completion of the sale, the executive vice president now owns 93,559 shares in the company, valued at $5,283,276.73. The disclosure for this sale can be found here. Insiders sold 61,203 shares of company stock valued at $3,465,601 over the last quarter. 0.96% of the stock is currently owned by company insiders.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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