Nucor Co. (NYSE:NUE) Expected to Announce Earnings of $8.60 Per Share

Equities analysts predict that Nucor Co. (NYSE:NUEGet Rating) will report earnings per share (EPS) of $8.60 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Nucor’s earnings. The lowest EPS estimate is $8.12 and the highest is $9.25. Nucor reported earnings per share of $5.04 during the same quarter last year, which indicates a positive year over year growth rate of 70.6%. The company is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Nucor will report full-year earnings of $29.63 per share for the current financial year, with EPS estimates ranging from $25.30 to $33.95. For the next fiscal year, analysts anticipate that the firm will post earnings of $14.18 per share, with EPS estimates ranging from $9.14 to $18.12. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Nucor.

Nucor (NYSE:NUEGet Rating) last released its quarterly earnings data on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $7.35 by $0.32. Nucor had a net margin of 19.97% and a return on equity of 55.61%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.72 billion. During the same quarter last year, the company earned $3.10 EPS. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year.

Several analysts recently commented on the company. Credit Suisse Group raised their target price on Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. BMO Capital Markets lowered their price target on Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. The Goldman Sachs Group reduced their price objective on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday. Zacks Investment Research cut shares of Nucor from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research note on Wednesday, April 20th. Finally, initiated coverage on shares of Nucor in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of “Hold” and a consensus target price of $138.36.

Shares of NUE traded down $1.78 during mid-day trading on Wednesday, reaching $130.68. 38,220 shares of the company’s stock traded hands, compared to its average volume of 2,768,465. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.66 and a current ratio of 2.88. The business’s 50-day moving average price is $145.83 and its 200-day moving average price is $127.03. The stock has a market capitalization of $34.77 billion, a P/E ratio of 4.68 and a beta of 1.22. Nucor has a 12 month low of $87.71 and a 12 month high of $187.90.

In other Nucor news, insider Michael D. Keller sold 3,600 shares of the firm’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $154.58, for a total value of $556,488.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total transaction of $640,000.00. Following the sale, the executive vice president now owns 46,994 shares in the company, valued at approximately $7,519,040. The disclosure for this sale can be found here. Insiders sold a total of 31,639 shares of company stock worth $4,736,302 over the last quarter. Insiders own 0.46% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AE Wealth Management LLC lifted its stake in shares of Nucor by 401.8% in the fourth quarter. AE Wealth Management LLC now owns 104,297 shares of the basic materials company’s stock worth $11,906,000 after buying an additional 83,514 shares during the last quarter. Summit Financial LLC bought a new stake in Nucor during the 4th quarter valued at approximately $313,000. Easterly Investment Partners LLC grew its holdings in Nucor by 97.7% in the 4th quarter. Easterly Investment Partners LLC now owns 14,000 shares of the basic materials company’s stock valued at $1,598,000 after buying an additional 6,917 shares during the last quarter. Avantax Planning Partners Inc. increased its position in Nucor by 14.2% in the 4th quarter. Avantax Planning Partners Inc. now owns 3,550 shares of the basic materials company’s stock worth $405,000 after buying an additional 442 shares during the period. Finally, Blair William & Co. IL lifted its holdings in shares of Nucor by 51.7% during the fourth quarter. Blair William & Co. IL now owns 24,791 shares of the basic materials company’s stock worth $2,830,000 after buying an additional 8,452 shares during the last quarter. Institutional investors own 77.70% of the company’s stock.

About Nucor (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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