Nucor (NYSE:NUE) Announces Quarterly Earnings Results

Nucor (NYSE:NUE) released its quarterly earnings data on Thursday. The basic materials company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.81 by $0.23, RTT News reports. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $8.24 billion. Nucor had a return on equity of 14.90% and a net margin of 7.63%. The business’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS.

NUE stock opened at $94.75 on Friday. The company’s 50-day moving average price is $99.24. The company has a market capitalization of $28.35 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.42 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.50 and a quick ratio of 2.04. Nucor has a 52-week low of $41.63 and a 52-week high of $110.96.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 11th. Shareholders of record on Wednesday, June 30th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, June 29th. Nucor’s dividend payout ratio (DPR) is currently 48.50%.

In other Nucor news, CFO James D. Frias sold 34,324 shares of the stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $81.94, for a total value of $2,812,508.56. Following the sale, the chief financial officer now directly owns 357,830 shares in the company, valued at $29,320,590.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Raymond S. Napolitan, Jr. sold 65,789 shares of Nucor stock in a transaction on Monday, May 10th. The shares were sold at an average price of $103.02, for a total transaction of $6,777,582.78. Following the completion of the sale, the executive vice president now owns 197,703 shares in the company, valued at $20,367,363.06. The disclosure for this sale can be found here. Insiders have sold 176,897 shares of company stock valued at $15,855,110 in the last ninety days. 0.71% of the stock is owned by company insiders.

A number of analysts have weighed in on NUE shares. Bank of America raised Nucor from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $56.00 to $80.00 in a research report on Tuesday, April 20th. BMO Capital Markets raised their price objective on Nucor from $86.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, May 14th. The Goldman Sachs Group began coverage on Nucor in a report on Friday, April 9th. They set a “buy” rating and a $86.00 target price on the stock. JPMorgan Chase & Co. started coverage on Nucor in a report on Wednesday, June 16th. They set a “neutral” rating and a $114.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Nucor from $75.00 to $100.00 and gave the stock a “hold” rating in a report on Thursday, July 1st. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.92.

Nucor announced that its board has initiated a share buyback plan on Thursday, May 13th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Nucor

Nucor Corporation manufactures and sells steel and steel products. It operates through 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Earnings History for Nucor (NYSE:NUE)

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