Posted by admin on May 13th, 2022
Wall Street brokerages expect that Nucor Co. (NYSE:NUE – Get Rating) will post $11.00 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Nucor’s earnings. The lowest sales estimate is $9.85 billion and the highest is $11.85 billion. Nucor posted sales of $8.79 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.1%. The company is expected to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Nucor will report full-year sales of $41.16 billion for the current fiscal year, with estimates ranging from $36.87 billion to $44.94 billion. For the next year, analysts anticipate that the company will post sales of $35.68 billion, with estimates ranging from $28.02 billion to $45.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Nucor.
Nucor (NYSE:NUE – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.39 by $0.28. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.72 billion. Nucor had a net margin of 19.97% and a return on equity of 55.61%. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.10 earnings per share.
NUE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $113.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, March 24th. BMO Capital Markets boosted their target price on shares of Nucor from $152.00 to $168.00 in a research note on Friday, April 22nd. Argus boosted their target price on shares of Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, April 25th. Credit Suisse Group boosted their target price on shares of Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Nucor from $134.00 to $148.00 and gave the company a “neutral” rating in a research note on Friday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $143.64.
In other Nucor news, EVP Daniel R. Needham sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total value of $640,000.00. Following the completion of the sale, the executive vice president now directly owns 46,994 shares of the company’s stock, valued at approximately $7,519,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 3,014 shares of the company’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $143.40, for a total transaction of $432,207.60. The disclosure for this sale can be found here. Insiders sold a total of 31,639 shares of company stock valued at $4,736,302 in the last quarter. 0.46% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of NUE. Norges Bank purchased a new stake in Nucor during the fourth quarter valued at about $683,804,000. BlackRock Inc. lifted its stake in Nucor by 4.0% during the first quarter. BlackRock Inc. now owns 23,345,048 shares of the basic materials company’s stock valued at $3,470,242,000 after buying an additional 897,135 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in Nucor during the first quarter valued at about $82,501,000. Pacer Advisors Inc. lifted its stake in Nucor by 243.5% during the first quarter. Pacer Advisors Inc. now owns 578,910 shares of the basic materials company’s stock valued at $86,055,000 after buying an additional 410,371 shares in the last quarter. Finally, FMR LLC lifted its stake in Nucor by 123.0% during the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after buying an additional 371,876 shares in the last quarter. 77.70% of the stock is owned by institutional investors.
NUE opened at $124.64 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.88 and a quick ratio of 1.66. Nucor has a 12-month low of $87.71 and a 12-month high of $187.90. The firm’s fifty day moving average price is $147.92 and its 200 day moving average price is $125.52. The stock has a market capitalization of $33.50 billion, a PE ratio of 4.46 and a beta of 1.22.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 11th. Investors of record on Thursday, March 31st were given a $0.50 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.60%. Nucor’s dividend payout ratio is presently 7.15%.
Nucor Company Profile (Get Rating)
Nucor Corporation manufactures and sells steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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