Nucor (NYSE:NUE) Releases Q3 2021 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its third quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.300-$7.400 for the period, compared to the Thomson Reuters consensus estimate of $6.400. The company issued revenue guidance of -.

Shares of Nucor stock traded up $3.19 during trading on Thursday, hitting $103.53. 31,833 shares of the stock traded hands, compared to its average volume of 3,293,385. The firm’s fifty day moving average is $109.51 and its 200-day moving average is $99.34. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 10.16 and a beta of 1.38. Nucor has a 52 week low of $46.00 and a 52 week high of $128.81. 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 (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.81 by $0.23. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $8.24 billion. Nucor had a net margin of 11.70% and a return on equity of 26.26%. The business’s revenue was up 55.6% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. On average, analysts forecast that Nucor will post 19.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 10th. Shareholders of record on Thursday, September 30th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.62 dividend on an annualized basis and a yield of 1.56%. Nucor’s dividend payout ratio (DPR) is 48.50%.

A number of analysts have weighed in on NUE shares. Argus raised their price objective on shares of Nucor from $110.00 to $140.00 and gave the company a buy rating in a research note on Tuesday, August 24th. Seaport Global Securities initiated coverage on Nucor in a report on Monday, August 23rd. They issued a buy rating and a $130.00 price objective for the company. Credit Suisse Group restated a buy rating and set a $142.00 target price on shares of Nucor in a research note on Friday, September 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nucor from $100.00 to $130.00 and gave the company a hold rating in a report on Wednesday, September 15th. They noted that the move was a valuation call. Finally, Seaport Res Ptn reissued a buy rating on shares of Nucor in a report on Monday, August 23rd. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $102.25.

In other news, EVP Allen C. Behr sold 6,103 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $123.28, for a total transaction of $752,377.84. Following the completion of the sale, the executive vice president now owns 44,891 shares in the company, valued at $5,534,162.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Keller sold 3,431 shares of the company’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $127.40, for a total transaction of $437,109.40. The disclosure for this sale can be found here. Insiders sold a total of 139,814 shares of company stock worth $15,115,839 in the last ninety days. 0.71% of the stock is owned by corporate insiders.

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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