Nucor (NYSE:NUE) Issues Q3 Earnings Guidance

Nucor (NYSE:NUE) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of below $2.68 for the period, compared to the consensus EPS estimate of $2.35.

Analysts Set New Price Targets

Several research firms have weighed in on NUE. Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a buy rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets decreased their target price on shares of Nucor from $185.00 to $175.00 and set a market perform rating for the company in a research report on Monday, June 17th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $180.00 to $170.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group initiated coverage on shares of Nucor in a research report on Monday, May 20th. They set a hold rating and a $190.00 target price for the company. Finally, StockNews.com downgraded shares of Nucor from a buy rating to a hold rating in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $191.29.

Nucor Stock Down 4.2 %

Nucor stock opened at $154.82 on Thursday. Nucor has a twelve month low of $140.07 and a twelve month high of $203.00. The firm has a 50 day moving average price of $161.02 and a 200-day moving average price of $175.79. The company has a market capitalization of $37.12 billion, a P/E ratio of 9.11 and a beta of 1.57. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.68%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the firm earned $5.81 EPS. The company’s revenue was down 15.2% compared to the same quarter last year. As a group, equities analysts predict that Nucor will post 10.72 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is currently 12.71%.

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.