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.

Several brokerages recently weighed in on NUE. Morgan Stanley reduced their price objective on shares of Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a research note on Tuesday. Zacks Investment Research lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating and issued a $76.00 target price on shares of Nucor in a report on Wednesday, January 31st. BMO Capital Markets boosted their target price on shares of Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their target price on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Nucor has an average rating of “Buy” and an average target price of $69.90.

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%.

COPYRIGHT VIOLATION WARNING: This report was originally published by Daily Political and is the property of of Daily Political. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.dailypolitical.com/2018/02/10/5-48-billion-in-sales-expected-for-nucor-co-nue-this-quarter.html.

About Nucor

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).

Get a free copy of the Zacks research report on Nucor (NUE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.