Q1 2022 EPS Estimates for Nucor Co. Lowered by Analyst (NYSE:NUE)

Nucor Co. (NYSE:NUEGet Rating) – Equities researchers at Seaport Res Ptn lowered their Q1 2022 earnings per share estimates for Nucor in a research report issued on Wednesday, April 20th. Seaport Res Ptn analyst M. Englert now forecasts that the basic materials company will earn $7.35 per share for the quarter, down from their prior estimate of $7.45. Seaport Res Ptn also issued estimates for Nucor’s Q2 2022 earnings at $6.20 EPS, Q3 2022 earnings at $5.00 EPS, Q4 2022 earnings at $3.75 EPS, FY2022 earnings at $22.30 EPS and FY2023 earnings at $9.14 EPS.

A number of other research firms have also recently commented on NUE. Morgan Stanley boosted their target price on shares of Nucor from $107.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Monday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $113.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, March 24th. StockNews.com began coverage on shares of Nucor in a report on Thursday, March 31st. They set a “buy” rating on the stock. The Goldman Sachs Group increased their price objective on shares of Nucor from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, February 16th. Finally, Wolfe Research downgraded shares of Nucor from a “peer perform” rating to an “underperform” rating and set a $102.00 price objective on the stock. in a research report on Tuesday, January 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Nucor presently has an average rating of “Hold” and an average target price of $131.27.

Shares of Nucor stock opened at $175.59 on Friday. The firm has a 50-day simple moving average of $141.87 and a two-hundred day simple moving average of $120.81. The company has a market cap of $47.19 billion, a P/E ratio of 7.51 and a beta of 1.33. Nucor has a fifty-two week low of $75.60 and a fifty-two week high of $187.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 2.48.

Nucor (NYSE:NUEGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The basic materials company reported $7.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $7.39 by $0.28. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.72 billion. Nucor had a net margin of 18.71% and a return on equity of 51.41%. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.10 earnings per share.

A number of hedge funds have recently modified their holdings of NUE. AE Wealth Management LLC grew its stake in Nucor by 401.8% during 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 period. Avantax Planning Partners Inc. raised its holdings in shares of Nucor by 14.2% during the fourth quarter. Avantax Planning Partners Inc. now owns 3,550 shares of the basic materials company’s stock worth $405,000 after purchasing an additional 442 shares during the period. GWM Advisors LLC raised its holdings in shares of Nucor by 21.3% during the third quarter. GWM Advisors LLC now owns 13,671 shares of the basic materials company’s stock worth $1,346,000 after purchasing an additional 2,400 shares during the period. Concord Wealth Partners raised its holdings in shares of Nucor by 157.1% during the fourth quarter. Concord Wealth Partners now owns 360 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 220 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Nucor by 572.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 16,504 shares of the basic materials company’s stock worth $1,884,000 after acquiring an additional 14,050 shares during the period. 73.01% of the stock is owned by hedge funds and other institutional investors.

In other Nucor news, CEO Leon J. Topalian sold 16,589 shares of the company’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $148.28, for a total value of $2,459,816.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 3,600 shares of the company’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $154.58, for a total transaction of $556,488.00. 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. 0.46% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 11th. Investors of record on Thursday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, March 30th. Nucor’s dividend payout ratio is currently 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.

See Also

Earnings History and Estimates for Nucor (NYSE:NUE)

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