$5.48 Billion in Sales Expected for Nucor Co. (NUE) This Quarter
Wall Street brokerages expect that Nucor Co. (NYSE:NUE) will report sales of $5.48 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Nucor’s earnings. The highest sales estimate is $5.61 billion and the lowest is $5.34 billion. Nucor reported sales of $4.82 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 13.7%. The firm is expected to report its next earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Nucor will report full-year sales of $5.48 billion for the current year, with estimates ranging from $20.39 billion to $23.93 billion. For the next fiscal year, analysts anticipate that the company will post sales of $23.16 billion per share, with estimates ranging from $21.48 billion to $25.27 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts 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, topping the consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Nucor’s revenue for the quarter was up 28.7% on a year-over-year basis.
In other news, EVP Robert J. Stratman sold 39,037 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the transaction, the executive vice president now owns 233,824 shares in the company, valued at $14,936,677.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NUE. Numeric Investors LLC acquired a new position in shares of Nucor during the second quarter valued at about $498,000. Janus Henderson Group PLC raised its holdings in shares of Nucor by 429.3% during the second quarter. Janus Henderson Group PLC now owns 213,636 shares of the basic materials company’s stock valued at $12,363,000 after purchasing an additional 173,276 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Nucor during the second quarter valued at about $372,000. The Manufacturers Life Insurance Company raised its holdings in shares of Nucor by 11.2% during the second quarter. The Manufacturers Life Insurance Company now owns 374,198 shares of the basic materials company’s stock valued at $21,655,000 after purchasing an additional 37,685 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Nucor by 5.2% during the second quarter. Ameritas Investment Partners Inc. now owns 18,575 shares of the basic materials company’s stock valued at $1,074,000 after purchasing an additional 923 shares during the period. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Shares of Nucor (NYSE NUE) opened at $61.77 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. Nucor has a one year low of $51.67 and a one year high of $70.48. The firm has a market cap of $19,195.81, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.02 and a beta of 1.56.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, December 29th were issued a $0.38 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.52 annualized dividend and a yield of 2.46%. Nucor’s payout ratio is presently 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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