Zacks: Brokerages Expect Nucor Co. (NYSE:NUE) to Announce $6.68 Earnings Per Share

Equities research analysts expect Nucor Co. (NYSE:NUE) to report earnings per share (EPS) of $6.68 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Nucor’s earnings. The highest EPS estimate is $7.20 and the lowest is $6.05. Nucor reported earnings of $0.63 per share during the same quarter last year, which would indicate a positive year over year growth rate of 960.3%. The company is scheduled to report its next earnings results on Thursday, October 28th.

According to Zacks, analysts expect that Nucor will report full-year earnings of $20.31 per share for the current fiscal year, with EPS estimates ranging from $17.00 to $22.88. For the next year, analysts anticipate that the firm will post earnings of $12.20 per share, with EPS estimates ranging from $6.50 to $16.22. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Nucor.

Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.23. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $8.24 billion. Nucor had a return on equity of 26.26% and a net margin of 11.70%. The company’s quarterly revenue was up 55.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS.

A number of equities analysts have issued reports on the company. Seaport Global Securities assumed coverage on Nucor in a research note on Monday, August 23rd. They set a “buy” rating and a $130.00 price target for the company. Seaport Res Ptn restated a “buy” rating on shares of Nucor in a research note on Monday, August 23rd. Morgan Stanley boosted their target price on Nucor from $95.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Monday, June 14th. Argus boosted their target price on Nucor from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, August 24th. Finally, JPMorgan Chase & Co. initiated coverage on Nucor in a research note on Wednesday, June 16th. They issued a “neutral” rating and a $114.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $96.38.

In other news, insider Michael D. Keller sold 3,431 shares of the business’s stock in a transaction on Friday, August 13th. The shares were sold at an average price of $127.40, for a total transaction of $437,109.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 12,000 shares of the company’s stock in a transaction on Monday, July 26th. The stock was sold at an average price of $96.76, for a total transaction of $1,161,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 139,814 shares of company stock worth $15,115,839 in the last three months. Insiders own 0.71% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Nucor by 1.8% in the second quarter. Vanguard Group Inc. now owns 37,335,594 shares of the basic materials company’s stock worth $3,581,604,000 after acquiring an additional 661,012 shares in the last quarter. BlackRock Inc. grew its position in Nucor by 3.0% in the first quarter. BlackRock Inc. now owns 21,657,033 shares of the basic materials company’s stock worth $1,738,408,000 after acquiring an additional 630,528 shares in the last quarter. FMR LLC grew its position in Nucor by 222.5% in the second quarter. FMR LLC now owns 7,039,993 shares of the basic materials company’s stock worth $675,347,000 after acquiring an additional 4,857,349 shares in the last quarter. Bank of New York Mellon Corp grew its position in Nucor by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 5,687,577 shares of the basic materials company’s stock worth $456,541,000 after acquiring an additional 23,329 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Nucor by 6.1% in the second quarter. Geode Capital Management LLC now owns 5,507,997 shares of the basic materials company’s stock worth $527,162,000 after acquiring an additional 315,179 shares in the last quarter. Institutional investors own 76.45% of the company’s stock.

NUE stock traded down $8.01 during mid-day trading on Monday, reaching $96.88. 6,485,868 shares of the company traded hands, compared to its average volume of 3,314,006. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 9.62 and a beta of 1.38. The company has a quick ratio of 1.76, a current ratio of 3.11 and a debt-to-equity ratio of 0.42. Nucor has a fifty-two week low of $44.05 and a fifty-two week high of $128.81. The firm’s 50 day moving average price is $109.00 and its 200 day moving average price is $95.51.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 10th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.405 per share. The ex-dividend date is Wednesday, September 29th. This represents a $1.62 dividend on an annualized basis and a yield of 1.67%. Nucor’s payout ratio is 48.50%.

Nucor Company Profile

Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments.

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Earnings History and Estimates for Nucor (NYSE:NUE)

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