Nucor (NYSE:NUE) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Nucor (NYSE:NUE) posted its earnings results on Monday. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09, Briefing.com reports. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the firm posted $4.57 EPS. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis.

Nucor Trading Down 3.0 %

Shares of NYSE NUE traded down $4.36 during midday trading on Wednesday, hitting $141.66. The stock had a trading volume of 2,783,447 shares, compared to its average volume of 1,496,199. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a market capitalization of $33.96 billion, a price-to-earnings ratio of 8.33 and a beta of 1.55. The company has a fifty day moving average price of $147.81 and a 200 day moving average price of $159.39.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.52%. Nucor’s dividend payout ratio is presently 12.71%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America cut their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets cut their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, Morgan Stanley reduced their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

About Nucor

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.