Q3 2024 Earnings Estimate for Nucor Co. (NYSE:NUE) Issued By Seaport Res Ptn

Nucor Co. (NYSE:NUE) – Analysts at Seaport Res Ptn lifted their Q3 2024 earnings per share estimates for shares of Nucor in a research report issued on Tuesday, April 23rd. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $3.08 for the quarter, up from their previous forecast of $3.05. The consensus estimate for Nucor’s current full-year earnings is $12.93 per share. Seaport Res Ptn also issued estimates for Nucor’s Q4 2024 earnings at $2.93 EPS and Q4 2025 earnings at $2.72 EPS.

Several other equities research analysts have also weighed in on NUE. BMO Capital Markets reduced their price objective on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, UBS Group assumed coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $193.14.

Nucor Stock Performance

NUE opened at $172.76 on Thursday. The firm has a market cap of $41.46 billion, a PE ratio of 10.16 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $191.04 and a 200-day simple moving average of $174.17. Nucor has a fifty-two week low of $129.79 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the business posted $4.45 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year.

Hedge Funds Weigh In On Nucor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC boosted its stake in Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after purchasing an additional 54 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Nucor by 6.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 54 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after buying an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after buying an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock worth $7,308,683 in the last quarter. Insiders own 0.46% of the company’s stock.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

About Nucor

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.