Nucor Co. to Post Q3 2024 Earnings of $3.04 Per Share, Zacks Research Forecasts (NYSE:NUE)

Nucor Co. (NYSE:NUE - Free Report) - Stock analysts at Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for shares of Nucor in a report released on Monday, May 6th. Zacks Research analyst M. Agrawal now anticipates that the basic materials company will post earnings of $3.04 per share for the quarter, up from their previous estimate of $2.94. The consensus estimate for Nucor's current full-year earnings is $12.55 per share. Zacks Research also issued estimates for Nucor's Q4 2024 earnings at $2.59 EPS, Q1 2025 earnings at $3.07 EPS and Q4 2025 earnings at $3.12 EPS.

A number of other equities analysts have also recently issued reports on NUE. BMO Capital Markets dropped their price objective on Nucor from $210.00 to $200.00 and set a "market perform" rating for the company in a report on Wednesday, April 24th. StockNews.com downgraded shares of Nucor from a "buy" rating to a "hold" rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $195.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, April 24th. UBS Group began coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a "buy" rating and a $210.00 target price on the stock. Finally, Citigroup upgraded Nucor from a "neutral" rating to a "buy" rating and boosted their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Nucor currently has an average rating of "Hold" and an average price target of $193.14.

Nucor Trading Down 1.2 %

NYSE NUE traded down $1.98 during trading on Wednesday, hitting $169.81. The stock had a trading volume of 1,247,749 shares, compared to its average volume of 1,437,831. Nucor has a one year low of $129.79 and a one year high of $203.00. The stock has a 50 day simple moving average of $187.87 and a 200 day simple moving average of $175.79. The stock has a market capitalization of $40.75 billion, a price-to-earnings ratio of 9.99 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts' consensus estimates of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter last year, the firm earned $4.45 EPS. The company's revenue was down 6.6% on a year-over-year basis.

Institutional Investors Weigh In On Nucor

A number of institutional investors and hedge funds have recently modified their holdings of NUE. Bleakley Financial Group LLC boosted its holdings in shares of Nucor by 3.8% in the 1st quarter. Bleakley Financial Group LLC now owns 5,204 shares of the basic materials company's stock valued at $1,030,000 after acquiring an additional 189 shares during the last quarter. Great Diamond Partners LLC grew its holdings in Nucor by 143.6% during the first quarter. Great Diamond Partners LLC now owns 12,253 shares of the basic materials company's stock worth $2,425,000 after acquiring an additional 7,224 shares during the period. Heritage Wealth Advisors raised its position in Nucor by 4.4% during the first quarter. Heritage Wealth Advisors now owns 2,103 shares of the basic materials company's stock valued at $416,000 after acquiring an additional 88 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Nucor by 1.2% in the first quarter. Russell Investments Group Ltd. now owns 250,990 shares of the basic materials company's stock valued at $49,676,000 after acquiring an additional 2,855 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Nucor by 6.2% during the 1st quarter. QRG Capital Management Inc. now owns 125,078 shares of the basic materials company's stock worth $24,753,000 after purchasing an additional 7,312 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Transactions at Nucor

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company's stock, valued at $23,351,936.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares of the company's stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders sold 32,651 shares of company stock valued at $6,283,648 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.27%. Nucor's dividend payout ratio is presently 12.71%.

About Nucor

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.