FY2024 Earnings Estimate for Nucor Issued By Seaport Res Ptn

Nucor Co. (NYSE:NUE - Free Report) - Research analysts at Seaport Res Ptn issued their FY2024 EPS estimates for Nucor in a research note issued to investors on Tuesday, January 21st. Seaport Res Ptn analyst M. Englert expects that the basic materials company will post earnings of $8.33 per share for the year. The consensus estimate for Nucor's current full-year earnings is $8.13 per share. Seaport Res Ptn also issued estimates for Nucor's Q4 2024 earnings at $0.70 EPS and FY2025 earnings at $7.42 EPS.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during 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%. The company's revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.57 EPS.

Several other equities research analysts have also weighed in on the company. UBS Group reiterated a "neutral" rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Jefferies Financial Group lowered their price target on Nucor from $150.00 to $125.00 and set a "hold" rating on the stock in a research report on Monday, January 6th. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $168.00 to $152.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They set a "buy" rating and a $190.00 price target for the company. Four 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. Based on data from MarketBeat, Nucor has an average rating of "Moderate Buy" and an average price target of $163.63.

Nucor Price Performance

NYSE NUE traded up $0.07 on Thursday, reaching $122.16. The company's stock had a trading volume of 963,726 shares, compared to its average volume of 2,193,018. Nucor has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market cap of $28.68 billion, a PE ratio of 11.82 and a beta of 1.60. The business has a 50-day moving average price of $131.64 and a 200 day moving average price of $143.82.

Institutional Investors Weigh In On Nucor

Several hedge funds have recently added to or reduced their stakes in NUE. Widmann Financial Services Inc. increased its stake in Nucor by 4.0% during the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock worth $271,000 after acquiring an additional 70 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after purchasing an additional 72 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Nucor by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company's stock valued at $822,000 after purchasing an additional 74 shares during the period. Mirador Capital Partners LP raised its position in shares of Nucor by 1.5% during the third quarter. Mirador Capital Partners LP now owns 5,250 shares of the basic materials company's stock worth $789,000 after acquiring an additional 77 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Nucor by 1.7% in the third quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company's stock worth $696,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company's stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

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 given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Nucor's previous quarterly dividend of $0.54. Nucor's dividend payout ratio is currently 21.26%.

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.