Nucor (NYSE:NUE) Announces Earnings Results

Nucor (NYSE:NUE) announced its quarterly earnings data on Monday. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16), RTT News reports. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. Nucor’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.45 EPS. Nucor updated its Q2 guidance to below $3.46 EPS.

Nucor Trading Up 0.2 %

Shares of NUE opened at $191.74 on Tuesday. Nucor has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a 50-day moving average of $191.30 and a 200 day moving average of $174.06. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of 10.66 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.13%. Nucor’s payout ratio is 12.01%.

Insider Activity at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock worth $7,308,683 in the last 90 days. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NUE. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. UBS Group assumed coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average target price of $192.83.

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.