Nucor (NYSE:NUE) Updates Q4 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.55-0.65 for the period, compared to the consensus EPS estimate of $0.89. Nucor also updated its Q4 2024 guidance to 0.550-0.650 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NUE shares. UBS Group reaffirmed a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday. JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley reduced their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.75.

Nucor Trading Down 0.9 %

NUE stock traded down $1.09 during midday trading on Monday, reaching $124.16. 3,078,645 shares of the company traded hands, compared to its average volume of 1,582,569. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor has a 52-week low of $123.01 and a 52-week high of $203.00. The firm has a market capitalization of $29.15 billion, a price-to-earnings ratio of 12.10 and a beta of 1.55. The business has a 50 day moving average of $149.13 and a 200-day moving average of $151.29.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.57 earnings per share. As a group, sell-side analysts expect that Nucor will post 8.5 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a $0.55 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, December 31st. Nucor’s payout ratio is presently 21.26%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Nucor Company Profile

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.