Nucor Co. (NYSE:NUE) - Analysts at KeyCorp decreased their FY2021 earnings per share estimates for shares of Nucor in a report issued on Monday, November 22nd. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $22.15 per share for the year, down from their prior forecast of $22.20. KeyCorp also issued estimates for Nucor's Q4 2021 earnings at $6.70 EPS and FY2022 earnings at $8.25 EPS.
Several other research analysts have also recently weighed in on NUE. Deutsche Bank Aktiengesellschaft lifted their price target on Nucor from $100.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Argus lifted their price target on Nucor from $110.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, August 24th. Credit Suisse Group restated a "buy" rating and issued a $142.00 price objective on shares of Nucor in a research report on Friday, September 17th. Wolfe Research assumed coverage on Nucor in a research report on Tuesday, November 16th. They issued a "market perform" rating and a $104.00 price objective for the company. Finally, The Goldman Sachs Group cut Nucor from a "buy" rating to a "neutral" rating and cut their price objective for the company from $123.00 to $108.00 in a research report on Wednesday, October 6th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $113.42.
Shares of NUE stock opened at $115.79 on Thursday. The stock has a 50 day moving average of $105.80 and a 200 day moving average of $105.20. The company has a current ratio of 2.53, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market cap of $33.09 billion, a P/E ratio of 6.93 and a beta of 1.45. Nucor has a twelve month low of $47.94 and a twelve month high of $128.81. Nucor (NYSE:NUE) last announced its quarterly earnings data on Wednesday, October 20th. The basic materials company reported $7.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($0.18). Nucor had a return on equity of 40.10% and a net margin of 15.86%. The firm had revenue of $10.31 billion during the quarter, compared to analysts' expectations of $10.24 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company's revenue for the quarter was up 109.3% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in NUE. Kentucky Retirement Systems grew its holdings in Nucor by 0.5% during the third quarter. Kentucky Retirement Systems now owns 17,517 shares of the basic materials company's stock worth $1,725,000 after acquiring an additional 92 shares during the period. AllSquare Wealth Management LLC grew its holdings in Nucor by 23.5% during the second quarter. AllSquare Wealth Management LLC now owns 526 shares of the basic materials company's stock worth $50,000 after acquiring an additional 100 shares during the period. Horrell Capital Management Inc. grew its holdings in Nucor by 0.3% during the third quarter. Horrell Capital Management Inc. now owns 29,497 shares of the basic materials company's stock worth $2,905,000 after acquiring an additional 100 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Nucor by 1.2% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,454 shares of the basic materials company's stock worth $833,000 after acquiring an additional 100 shares during the period. Finally, Intrust Bank NA grew its holdings in Nucor by 0.7% during the second quarter. Intrust Bank NA now owns 14,690 shares of the basic materials company's stock worth $1,410,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 76.28% of the company's stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 10th. Stockholders of record on Thursday, September 30th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, September 29th. Nucor's dividend payout ratio (DPR) is presently 9.69%.
Nucor Company Profile
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments.
Recommended Story: What is the Dividend Aristocrat Index?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Nucor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nucor wasn't on the list.
While Nucor currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here