Nucor (NYSE:NUE) Posts Earnings Results, Beats Estimates By $0.09 EPS

Nucor (NYSE:NUE) released its quarterly earnings results on Monday. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09, Briefing.com reports. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period last year, the firm posted $4.57 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year.

Nucor Stock Down 6.5 %

Shares of NYSE NUE opened at $146.03 on Wednesday. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 8.59 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor has a 12 month low of $133.42 and a 12 month high of $203.00. The stock has a 50-day moving average price of $147.80 and a two-hundred day moving average price of $159.52.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley reduced their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Finally, Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.43.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by corporate insiders.

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.