Analysts expect Nucor Co. (NYSE:NUE) to post sales of $6.09 Nucor’s earnings, with the highest sales estimate coming in at $6.17 billion and the lowest estimate coming in at $5.94 billion. Nucor posted sales of $6.46 billion during the same quarter last year, which suggests a negative year over year growth rate of 5.7%. The company is expected to announce its next earnings results before the market opens on Thursday, July 18th.
On average, analysts expect that Nucor will report full-year sales of $23.82 billion for the current year, with estimates ranging from $22.83 billion to $24.64 post sales of $23.49 billion, with estimates ranging from $22.29 billion to $24.92 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Nucor.
Get Nucor alerts: Nucor (NYSE:NUE) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The company had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the company posted $1.17 earnings per share. Nucor’s quarterly revenue was up 9.5% on a year-over-year basis.
NUE has been the topic of several recent research reports. Goldman Sachs Group upgraded to a “buy” rating and set a GBX 1,180 ($15.42) target price on the stock in a research report on Tuesday, June 4th. Bank of America set a $77.00 price objective on Zscaler and gave the company a “neutral” rating in a research note on Friday, May 31st. Deutsche Bank set a $18.00 target price on shares of Commercial Metals and gave the stock a “buy” rating in a report on Thursday, May 30th. UBS Group set a $70.00 target price on shares of Lumentum and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock presently $63.11.
In other Nucor news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the sale, the insider now owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website . Also, EVP Leon J. Topalian sold 1,253 shares of Nucor stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $56.99, for a total transaction of $71,408.47. Following the completion of the sale, the executive vice president now directly owns 46,593 shares of the company’s stock, valued at approximately $2,655,335.07. The disclosure for this sale can be found here . In the last ninety days, insiders sold 76,314 shares of company stock valued at $4,310,637. 0.96% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NUE. Pinnacle Bank bought a new position in Nucor in the 4th quarter worth about $26,000. Ropes Wealth Advisors LLC purchased a new stake in shares of Nucor in the 1st quarter worth approximately $34,000. Berman Capital Advisors LLC lifted its position in shares of Nucor by 37.9% in the 1st quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 186 shares during the period. Strategy Asset Managers LLC purchased a new stake in shares of Nucor in the 1st quarter worth approximately $48,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Nucor by 46.7% in the 1st quarter. Quadrant Capital Group LLC now owns 905 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 288 shares during the period. Institutional investors own 76.47% of the company’s stock.
Nucor stock traded down $0.86 during trading on Friday, hitting $54.70. The stock had a trading volume of 2,043,900 shares, compared to its average volume of 2,462,414. Nucor has a 1 year low of $47.13 and a 1 year high of $68.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.64 and a current ratio of 3.37. The company’s 50 day moving average price is $52.99. The firm has a market cap of $16.67 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 0.89 and a beta of 1.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 27th. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
About Nucor
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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