Brokers Set Expectations for Nucor Co.’s Q1 2022 Earnings (NYSE:NUE)

Nucor Co. (NYSE:NUE – Get Rating) – Research analysts at KeyCorp boosted their Q1 2022 earnings per share (EPS) estimates for shares of Nucor in a note issued to investors on Tuesday, April 19th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $7.51 per share for the quarter, up from their prior forecast of $7.46.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Nucor from $113.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, March 24th. StockNews.com started coverage on Nucor in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Wolfe Research cut Nucor from a “peer perform” rating to an “underperform” rating and set a $102.00 price target on the stock. in a report on Tuesday, January 11th. Morgan Stanley upped their price target on Nucor from $107.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday, January 31st. Finally, The Goldman Sachs Group increased their target price on Nucor from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, February 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $128.27.

NUE opened at $169.25 on Thursday. The stock has a market cap of $45.49 billion, a P/E ratio of 7.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.48 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $140.73 and its 200 day simple moving average is $120.26. Nucor has a 1-year low of $75.60 and a 1-year high of $173.00.

Nucor (NYSE:NUE – Get Rating) last released its earnings results on Thursday, January 27th. The basic materials company reported $7.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.90 by $0.07. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.45 billion. Nucor had a return on equity of 51.41% and a net margin of 18.71%. The firm’s quarterly revenue was up 97.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 EPS.

Several institutional investors and hedge funds have recently modified their holdings of NUE. Norges Bank purchased a new position in shares of Nucor in the 4th quarter worth $683,804,000. Nordea Investment Management AB raised its position in shares of Nucor by 112.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,892,980 shares of the basic materials company’s stock worth $191,892,000 after buying an additional 1,000,028 shares during the period. Pacer Advisors Inc. raised its position in shares of Nucor by 243.5% in the 1st quarter. Pacer Advisors Inc. now owns 578,910 shares of the basic materials company’s stock worth $86,055,000 after buying an additional 410,371 shares during the period. FMR LLC raised its position in shares of Nucor by 123.0% in the 1st quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock worth $39,337,000 after buying an additional 371,876 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Nucor by 18.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,831,049 shares of the basic materials company’s stock valued at $209,014,000 after purchasing an additional 290,534 shares during the period. 73.01% of the stock is currently owned by institutional investors and hedge funds.

In other Nucor news, EVP Allen C. Behr sold 3,014 shares of the stock in a transaction on Monday, March 21st. The stock was sold at an average price of $143.40, for a total transaction of $432,207.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 16,589 shares of the stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $148.28, for a total value of $2,459,816.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,639 shares of company stock worth $4,096,302. Corporate insiders own 0.46% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 11th. Shareholders of record on Thursday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, March 30th. Nucor’s dividend payout ratio is presently 8.55%.

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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