Nucor (NYSE:NUE) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Nucor (NYSE:NUE) posted its earnings results on Tuesday. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10, Fidelity Earnings reports. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.57 billion. Nucor had a return on equity of 21.65% and a net margin of 8.84%. Nucor’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 earnings per share.

Shares of NUE stock traded up $0.61 during mid-day trading on Tuesday, hitting $52.40. 411,930 shares of the stock were exchanged, compared to its average volume of 2,188,979. The stock’s fifty day simple moving average is $51.20 and its two-hundred day simple moving average is $53.17. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 0.99 and a beta of 1.63. Nucor has a 12-month low of $46.10 and a 12-month high of $64.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, September 26th. Nucor’s payout ratio is 21.00%.

Several research firms recently commented on NUE. ValuEngine raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group set a $61.00 target price on Nucor and gave the company a “buy” rating in a report on Friday, July 19th. KeyCorp dropped their target price on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Finally, Bank of America dropped their price objective on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.14.

In other Nucor news, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $56.32, for a total transaction of $406,292.48. Following the transaction, the insider now owns 143,826 shares of the company’s stock, valued at $8,100,280.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.

About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 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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