Analysts predict that Nucor Co. (NYSE:NUE – Get Rating) will report $10.96 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Nucor’s earnings, with estimates ranging from $9.85 billion to $11.85 billion. Nucor reported sales of $8.79 billion in the same quarter last year, which indicates a positive year over year growth rate of 24.7%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Nucor will report full-year sales of $40.97 billion for the current fiscal year, with estimates ranging from $36.87 billion to $44.19 billion. For the next year, analysts forecast that the company will post sales of $33.96 billion, with estimates ranging from $28.02 billion to $40.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Nucor.
Nucor (NYSE:NUE – Get Rating) last issued its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.39 by $0.28. Nucor had a net margin of 18.71% and a return on equity of 51.41%. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.72 billion. During the same quarter in the prior year, the business posted $3.10 EPS. Nucor’s revenue for the quarter was up 49.5% compared to the same quarter last year.
NYSE:NUE opened at $161.05 on Friday. The firm has a market capitalization of $43.29 billion, a P/E ratio of 6.89 and a beta of 1.33. Nucor has a 1-year low of $75.60 and a 1-year high of $187.90. The company’s fifty day moving average price is $142.75 and its 200-day moving average price is $121.25. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, May 11th. Shareholders of record on Thursday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Nucor’s payout ratio is currently 8.55%.
In other news, insider Michael D. Keller sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $154.58, for a total value of $556,488.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 3,014 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $143.40, for a total value of $432,207.60. The disclosure for this sale can be found here. Insiders have sold 27,639 shares of company stock valued at $4,096,302 in the last three months. Insiders own 0.46% of the company’s stock.
Several hedge funds have recently bought and sold shares of NUE. Truist Financial Corp grew its position in Nucor by 4.3% in the first quarter. Truist Financial Corp now owns 170,901 shares of the basic materials company’s stock worth $25,405,000 after acquiring an additional 6,990 shares during the period. UMB Bank N A MO boosted its position in shares of Nucor by 5.0% during the first quarter. UMB Bank N A MO now owns 175,805 shares of the basic materials company’s stock worth $26,133,000 after buying an additional 8,316 shares during the period. Benedetti & Gucer Inc. boosted its position in shares of Nucor by 28.9% during the first quarter. Benedetti & Gucer Inc. now owns 2,450 shares of the basic materials company’s stock worth $364,000 after buying an additional 550 shares during the period. Artemis Wealth Advisors LLC purchased a new position in shares of Nucor during the first quarter worth $53,000. Finally, Exane Derivatives boosted its position in shares of Nucor by 39.5% during the first quarter. Exane Derivatives now owns 4,372 shares of the basic materials company’s stock worth $650,000 after buying an additional 1,239 shares during the period. Institutional investors and hedge funds own 73.01% of the company’s stock.
About Nucor (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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