Equities research analysts expect that Nucor Co. (NYSE:NUE) will announce $5.48 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Nucor’s earnings, with the highest sales estimate coming in at $5.61 billion and the lowest estimate coming in at $5.34 billion. Nucor reported sales of $4.82 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.7%. The business is expected to report its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that Nucor will report full year sales of $5.48 billion for the current financial year, with estimates ranging from $20.39 billion to $23.93 billion. For the next financial year, analysts forecast that the company will post sales of $23.16 billion per share, with estimates ranging from $21.48 billion to $25.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Nucor.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 28.7% on a year-over-year basis.
Several research analysts recently commented on NUE shares. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Jefferies Group reissued a “buy” rating and set a $76.00 target price on shares of Nucor in a research note on Wednesday, January 31st. Bank of America set a $75.00 target price on Nucor and gave the stock a “buy” rating in a research note on Monday, January 8th. Finally, BMO Capital Markets boosted their target price on Nucor to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $69.70.
In other Nucor news, CFO James D. Frias sold 39,037 shares of Nucor stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the completion of the sale, the chief financial officer now directly owns 177,204 shares of the company’s stock, valued at approximately $12,104,805.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Victoria F. Haynes sold 3,000 shares of Nucor stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $69.12, for a total value of $207,360.00. Following the sale, the director now directly owns 30,573 shares of the company’s stock, valued at $2,113,205.76. The disclosure for this sale can be found here. Insiders have sold a total of 95,387 shares of company stock valued at $6,285,411 over the last ninety days. 0.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Nucor by 3.2% during the 4th quarter. BlackRock Inc. now owns 22,382,353 shares of the basic materials company’s stock worth $1,423,070,000 after buying an additional 702,355 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after purchasing an additional 150,219 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Nucor by 3.4% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,874,421 shares of the basic materials company’s stock valued at $105,043,000 after purchasing an additional 60,915 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Nucor by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,729,371 shares of the basic materials company’s stock valued at $96,908,000 after purchasing an additional 46,786 shares during the last quarter. Finally, Luminus Management LLC lifted its holdings in shares of Nucor by 303.4% in the 4th quarter. Luminus Management LLC now owns 1,654,324 shares of the basic materials company’s stock valued at $105,182,000 after purchasing an additional 1,244,185 shares during the last quarter. 80.07% of the stock is owned by institutional investors.
Nucor stock traded down $1.26 on Friday, reaching $65.33. The company had a trading volume of 2,098,575 shares, compared to its average volume of 3,041,413. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The firm has a market cap of $21,171.40, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Wednesday, March 28th. Nucor’s dividend payout ratio (DPR) is 36.72%.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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