Zacks: Analysts Anticipate Nucor Co. (NUE) Will Post Earnings of $1.05 Per Share

Wall Street analysts expect Nucor Co. (NYSE:NUE) to report earnings per share of $1.05 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Nucor’s earnings. The highest EPS estimate is $1.30 and the lowest is $0.89. Nucor posted earnings of $1.11 per share in the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The business is scheduled to announce its next earnings report before the market opens on Thursday, April 19th.

According to Zacks, analysts expect that Nucor will report full year earnings of $5.32 per share for the current fiscal year, with EPS estimates ranging from $4.49 to $6.05. For the next fiscal year, analysts anticipate that the company will post earnings of $5.36 per share, with EPS estimates ranging from $4.10 to $5.98. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Nucor.

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Nucor (NYSE:NUE) last issued its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year.

Several brokerages have recently commented on NUE. Bank of America set a $75.00 target price on Nucor and gave the stock a “buy” rating in a research note on Monday, January 8th. Jefferies Group reissued a “buy” rating and set a $77.00 price target on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating and set a $76.00 price target for the company in a report on Monday, January 8th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group lifted their price target on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $69.54.

Shares of NYSE NUE traded down $2.41 during midday trading on Friday, hitting $60.69. 1,899,102 shares of the company’s stock were exchanged, compared to its average volume of 2,382,658. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor has a 12 month low of $51.67 and a 12 month high of $70.48. The company has a market capitalization of $20,061.81, a P/E ratio of 17.29, a P/E/G ratio of 0.99 and a beta of 1.54.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 annualized dividend and a yield of 2.50%. Nucor’s payout ratio is currently 43.30%.

In other Nucor news, CFO James D. Frias sold 39,037 shares of Nucor stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total value of $2,666,617.47. Following the completion of the transaction, the chief financial officer now directly owns 177,204 shares of the company’s stock, valued at approximately $12,104,805.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John J. Ferriola sold 14,313 shares of Nucor stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total value of $917,749.56. Following the completion of the transaction, the chairman now directly owns 333,775 shares of the company’s stock, valued at $21,401,653. The disclosure for this sale can be found here. Insiders sold a total of 64,350 shares of company stock valued at $4,312,607 over the last ninety days. Insiders own 0.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in NUE. New York State Common Retirement Fund raised its holdings in Nucor by 1.6% in the 3rd quarter. New York State Common Retirement Fund now owns 677,400 shares of the basic materials company’s stock valued at $37,961,000 after acquiring an additional 10,500 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Nucor by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 68,148 shares of the basic materials company’s stock valued at $3,819,000 after acquiring an additional 41,168 shares in the last quarter. ETRADE Capital Management LLC raised its holdings in Nucor by 15.4% in the 3rd quarter. ETRADE Capital Management LLC now owns 9,205 shares of the basic materials company’s stock valued at $516,000 after acquiring an additional 1,231 shares in the last quarter. Legal & General Group Plc raised its holdings in Nucor by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,729,371 shares of the basic materials company’s stock valued at $96,908,000 after acquiring an additional 46,786 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Nucor by 1.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,168,345 shares of the basic materials company’s stock valued at $65,475,000 after acquiring an additional 16,746 shares in the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.

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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).

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