Nucor Co. (NYSE:NUE - Free Report) - Analysts at Seaport Res Ptn issued their FY2024 EPS estimates for shares of Nucor in a report released on Tuesday, January 21st. Seaport Res Ptn analyst M. Englert expects that the basic materials company will post earnings per share of $8.33 for the year. The consensus estimate for Nucor's current full-year earnings is $8.13 per share. Seaport Res Ptn also issued estimates for Nucor's Q4 2024 earnings at $0.70 EPS and FY2025 earnings at $7.42 EPS.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor's quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $4.57 earnings per share.
Several other brokerages have also commented on NUE. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $168.00 to $152.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. UBS Group reiterated a "neutral" rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Jefferies Financial Group decreased their price objective on shares of Nucor from $150.00 to $125.00 and set a "hold" rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 target price on the stock. Finally, Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.63.
Read Our Latest Stock Analysis on Nucor
NUE opened at $122.10 on Thursday. The business's 50-day simple moving average is $131.64 and its 200-day simple moving average is $143.82. The company has a market cap of $28.67 billion, a P/E ratio of 11.80 and a beta of 1.60. Nucor has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.
A number of institutional investors and hedge funds have recently bought and sold shares of NUE. State Street Corp lifted its position in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock valued at $1,724,117,000 after acquiring an additional 326,181 shares during the period. National Pension Service raised its holdings in Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company's stock worth $98,097,000 after purchasing an additional 20,258 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Nucor during the fourth quarter worth $565,000. BIP Wealth LLC purchased a new stake in Nucor during the third quarter worth $681,000. Finally, Ascension Asset Management LLC acquired a new stake in Nucor in the second quarter valued at $885,000. Institutional investors and hedge funds own 76.48% of the company's stock.
In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares of the company's stock, valued at $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 over the last 90 days. 0.46% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a $0.55 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from Nucor's previous quarterly dividend of $0.54. Nucor's payout ratio is presently 21.26%.
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.
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