Zacks Research Research Analysts Cut Earnings Estimates for Nucor Co. (NYSE:NUE)

Nucor Co. (NYSE:NUE - Free Report) - Equities research analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for Nucor in a research note issued to investors on Thursday, May 9th. Zacks Research analyst M. Agrawal now anticipates that the basic materials company will post earnings of $3.08 per share for the quarter, down from their prior forecast of $3.15. The consensus estimate for Nucor's current full-year earnings is $12.44 per share. Zacks Research also issued estimates for Nucor's Q4 2024 earnings at $2.64 EPS, FY2024 earnings at $12.18 EPS, Q1 2025 earnings at $3.09 EPS, FY2025 earnings at $12.41 EPS and FY2026 earnings at $11.93 EPS.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results 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 company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the business earned $4.45 EPS. The company's revenue for the quarter was down 6.6% compared to the same quarter last year.

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

Nucor Stock Down 0.4 %

NYSE:NUE traded down $0.73 on Monday, hitting $173.74. 812,233 shares of the company's stock traded hands, compared to its average volume of 1,425,645. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The company has a market cap of $41.66 billion, a PE ratio of 10.24 and a beta of 1.65. The firm has a 50-day moving average price of $187.18 and a 200-day moving average price of $176.44. Nucor has a 1 year low of $129.79 and a 1 year high of $203.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its holdings in Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company's stock worth $652,851,000 after buying an additional 149,589 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Nucor by 7.6% in the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company's stock valued at $353,794,000 after purchasing an additional 159,230 shares during the period. Norges Bank acquired a new position in shares of Nucor in the 4th quarter valued at $377,631,000. Pacer Advisors Inc. lifted its stake in shares of Nucor by 13.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company's stock valued at $360,430,000 after purchasing an additional 237,752 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Nucor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company's stock valued at $261,041,000 after purchasing an additional 36,304 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Douglas J. Jellison sold 19,506 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company's stock, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of the business's stock in a transaction that occurred on 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 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. In the last ninety days, insiders have sold 32,651 shares of company stock worth $6,283,648. Company insiders own 0.64% of the company's stock.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Thursday, March 28th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.24%. Nucor's dividend payout ratio is 12.71%.

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.