Seaport Res Ptn Research Analysts Boost Earnings Estimates for Nucor Co. (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Investment analysts at Seaport Res Ptn upped their Q3 2024 earnings per share (EPS) estimates for shares of Nucor in a report issued on Tuesday, April 23rd. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will earn $3.08 per share for the quarter, up from their previous forecast of $3.05. The consensus estimate for Nucor’s current full-year earnings is $12.93 per share. Seaport Res Ptn also issued estimates for Nucor’s Q4 2024 earnings at $2.93 EPS and Q4 2025 earnings at $2.72 EPS.

Other analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective for the company. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. BMO Capital Markets lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $193.14.

Nucor Trading Down 0.3 %

Shares of Nucor stock opened at $175.36 on Thursday. The firm has a market cap of $42.08 billion, a price-to-earnings ratio of 10.32 and a beta of 1.61. Nucor has a twelve month low of $129.79 and a twelve month high of $203.00. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $190.62 and a 200-day moving average price of $174.32.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.45 earnings per share.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.23%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Nucor

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in shares of Nucor in the first quarter valued at approximately $27,000. Criterion Capital Advisors LLC purchased a new position in shares of Nucor in the fourth quarter valued at $25,000. Tompkins Financial Corp boosted its stake in Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its stake in Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 76.48% 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.