Nucor (NYSE:NUE) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Nucor reported quarterly EPS of $5.80, narrowly missing analysts’ consensus estimate of $5.84 by $0.04. The company posted a 7.99% net margin and 12.73% return on equity.
• Nucor shares fell 0.2% to $257.51, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $276.86.
• The company declared a quarterly dividend of $0.56 per share, or $2.24 annualized, representing a 0.9% yield and an 17.86% payout ratio.

Nucor (NYSE:NUE - Get Free Report) released its quarterly earnings data on Monday. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04), Zacks reports. Nucor had a net margin of 7.99% and a return on equity of 12.73%.

Nucor Stock Down 0.2%

NYSE:NUE traded down $0.60 on Monday, reaching $257.51. The stock had a trading volume of 1,584,669 shares, compared to its average volume of 1,534,982. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $252.58 and a 200 day moving average of $241.68. The stock has a market cap of $58.42 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 0.64 and a beta of 1.84. Nucor has a 12-month low of $139.21 and a 12-month high of $280.11.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor's dividend payout ratio is presently 17.86%.

Insider Activity

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

NUE has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of Nucor from $304.00 to $302.00 and set a "buy" rating for the company in a research note on Friday, September 18th. KeyCorp cut their target price on shares of Nucor from $288.00 to $286.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. Wells Fargo & Company reduced their target price on shares of Nucor from $285.00 to $280.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. BMO Capital Markets lifted their target price on shares of Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $270.00 price target on shares of Nucor in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and a consensus target price of $276.86.

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor's operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.

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