Nucor Corporation (NUE) Expected to Announce Quarterly Sales of $5.38 Billion
Equities research analysts expect Nucor Corporation (NYSE:NUE) to announce sales of $5.38 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Nucor Corporation’s earnings. The highest sales estimate is $5.69 billion and the lowest is $5.11 billion. Nucor Corporation posted sales of $4.29 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 25.4%. The firm is scheduled to announce its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Nucor Corporation will report full year sales of $5.38 billion for the current fiscal year, with estimates ranging from $19.75 billion to $21.22 billion. For the next financial year, analysts forecast that the firm will post sales of $21.14 billion per share, with estimates ranging from $20.02 billion to $22.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Nucor Corporation.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS.
A number of analysts have recently issued reports on NUE shares. Credit Suisse Group upgraded shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $56.00 to $68.00 in a report on Wednesday, May 24th. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Longbow Research raised shares of Nucor Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, KeyCorp reissued an “overweight” rating and issued a $66.00 price target (down previously from $72.00) on shares of Nucor Corporation in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $68.00.
Nucor Corporation (NYSE NUE) traded down 2.63% on Monday, reaching $54.51. The company had a trading volume of 2,340,051 shares. The firm has a market capitalization of $17.41 billion, a P/E ratio of 15.30 and a beta of 1.53. Nucor Corporation has a 1-year low of $45.30 and a 1-year high of $68.00. The company’s 50-day moving average price is $55.28 and its 200 day moving average price is $58.29.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.70%. Nucor Corporation’s dividend payout ratio (DPR) is 43.77%.
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In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon J. Topalian sold 2,626 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.23, for a total transaction of $158,163.98. Following the transaction, the insider now directly owns 19,610 shares in the company, valued at approximately $1,181,110.30. The disclosure for this sale can be found here. Insiders have sold 22,604 shares of company stock worth $1,351,495 over the last three months. 0.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in NUE. Mckinley Capital Management LLC Delaware bought a new position in shares of Nucor Corporation during the 2nd quarter valued at about $100,000. Krilogy Financial LLC boosted its holdings in shares of Nucor Corporation by 4,594.6% in the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,700 shares during the period. Washington Trust Bank boosted its holdings in shares of Nucor Corporation by 60.2% in the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after buying an additional 660 shares during the period. Fiduciary Trust Co. acquired a new position in shares of Nucor Corporation in the second quarter worth about $109,000. Finally, Advantage Investment Management LLC boosted its holdings in shares of Nucor Corporation by 164.9% in the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after buying an additional 1,154 shares during the period. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Corporation Company Profile
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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