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

Nucor Co. (NYSE:NUE) – Seaport Res Ptn boosted their Q3 2024 EPS estimates for shares of Nucor in a research report issued to clients and investors 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 estimate 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.

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

Nucor Trading Down 1.1 %

Shares of NUE opened at $172.76 on Thursday. The firm’s 50-day moving average price is $191.04 and its 200-day moving average price is $174.17. The firm has a market capitalization of $41.46 billion, a price-to-earnings ratio of 10.16 and a beta of 1.61. The company has a current ratio of 4.02, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. Nucor has a 1-year low of $129.79 and a 1-year high of $203.00.

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

Institutional Trading of Nucor

Several large investors have recently added to or reduced their stakes in NUE. Norges Bank bought a new stake in Nucor during the fourth quarter valued at approximately $377,631,000. International Assets Investment Management LLC bought a new stake in Nucor during the fourth quarter valued at approximately $108,747,000. Global Assets Advisory LLC bought a new position in shares of Nucor in the first quarter worth approximately $90,216,000. Pacer Advisors Inc. boosted its position in shares of Nucor by 13.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after purchasing an additional 237,752 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Nucor by 7.6% in the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after purchasing an additional 159,230 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. Insiders own 0.46% of the company’s stock.

Nucor Dividend Announcement

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

Nucor Company Profile

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.