Nucor (NYSE:NUE) Updates Q4 Earnings Guidance

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Nucor (NYSE:NUE) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.25-0.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.70. Nucor also updated its Q4 2019
Pre-Market guidance to 0.25-0.30 EPS.

NUE stock traded down $0.76 during mid-day trading on Friday, reaching $57.35. The company’s stock had a trading volume of 7,120 shares, compared to its average volume of 1,523,043. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.10 and a beta of 1.66. The business’s 50 day moving average price is $55.54 and its 200 day moving average price is $52.84. The company has a current ratio of 3.36, a quick ratio of 1.78 and a debt-to-equity ratio of 0.39. Nucor has a 12 month low of $46.10 and a 12 month high of $62.31.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.10. Nucor had a return on equity of 16.90% and a net margin of 7.62%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. As a group, equities analysts expect that Nucor will post 4.42 EPS for the current fiscal year.

A number of equities research analysts have commented on NUE shares. BNP Paribas started coverage on Nucor in a research note on Thursday, November 14th. They issued a buy rating and a $71.00 price objective for the company. Longbow Research raised Nucor from a neutral rating to a buy rating and set a $65.00 target price on the stock in a research report on Monday. Bank of America cut their target price on Nucor from $50.00 to $46.00 and set an underperform rating on the stock in a research report on Wednesday, September 4th. KeyCorp reaffirmed a buy rating and set a $62.00 target price (up previously from $60.00) on shares of Nucor in a research report on Wednesday, November 13th. Finally, ValuEngine raised Nucor from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $61.60.

In related news, CEO John J. Ferriola sold 3,203 shares of Nucor stock in a transaction on Monday, October 28th. The stock was sold at an average price of $54.00, for a total transaction of $172,962.00. Following the sale, the chief executive officer now directly owns 453,954 shares in the company, valued at $24,513,516. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of Nucor stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $52.67, for a total value of $421,360.00. Following the sale, the executive vice president now owns 142,393 shares in the company, valued at $7,499,839.31. The disclosure for this sale can be found here. 0.96% of the stock is owned by 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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Earnings History and Estimates for Nucor (NYSE:NUE)

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