Q3 2024 EPS Estimates for Nucor Co. Boosted by Analyst (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Investment analysts at Zacks Research increased their Q3 2024 earnings estimates for Nucor in a research note issued to investors on Monday, May 6th. Zacks Research analyst M. Agrawal now expects that the basic materials company will post earnings of $3.04 per share for the quarter, up from their prior forecast of $2.94. The consensus estimate for Nucor’s current full-year earnings is $12.55 per share. Zacks Research also issued estimates for Nucor’s Q4 2024 earnings at $2.59 EPS, Q1 2025 earnings at $3.07 EPS and Q4 2025 earnings at $3.12 EPS.

Several other research firms also recently issued reports on NUE. JPMorgan Chase & Co. reduced their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. BMO Capital Markets dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $193.14.

Nucor Trading Up 0.5 %

Shares of NYSE:NUE opened at $171.79 on Wednesday. The stock has a market cap of $41.23 billion, a PE ratio of 10.11 and a beta of 1.65. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor has a 12-month low of $129.79 and a 12-month high of $203.00. The business has a 50 day moving average of $188.31 and a 200-day moving average of $175.83.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.45 EPS.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter worth $25,000. Rise Advisors LLC bought a new stake in Nucor during the first quarter valued at $27,000. Chilton Capital Management LLC grew its holdings in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Nucor in the 1st quarter worth about $28,000. Finally, Tompkins Financial Corp lifted its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,651 shares of company stock worth $6,283,648. Insiders own 0.46% of the company’s stock.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.26%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.