Nucor Co. (NYSE:NUE) – KeyCorp reduced their FY2019 earnings per share (EPS) estimates for Nucor in a note issued to investors on Monday, December 16th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $4.12 for the year, down from their prior forecast of $4.45. KeyCorp has a “Buy” rating and a $62.00 price objective on the stock. KeyCorp also issued estimates for Nucor’s Q4 2019 earnings at $0.40 EPS and FY2020 earnings at $4.20 EPS.
A number of other equities analysts also recently weighed in on the company. Exane BNP Paribas began coverage on Nucor in a research report on Thursday, November 14th. They set an “outperform” rating and a $71.00 price target on the stock. Bank of America cut their price objective on Nucor from $50.00 to $46.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, December 9th. upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas assumed coverage on shares of Nucor in a research report on Thursday, November 14th. They issued a “buy” rating and a $71.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.60.
Shares of NUE stock opened at $57.04 on Thursday. The company has a fifty day moving average price of $55.89 and a two-hundred day moving average price of $53.02. Nucor has a one year low of $46.10 and a one year high of $62.31. The stock has a market cap of $17.12 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.08 and a beta of 1.66. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 1.78.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. Nucor had a net margin of 7.62% and a return on equity of 16.90%. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a $0.4025 dividend. The ex-dividend date is Monday, December 30th. This is a boost from Nucor’s previous quarterly dividend of $0.40. This represents a $1.61 annualized dividend and a yield of 2.82%. Nucor’s payout ratio is currently 21.00%.
In other Nucor news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $52.67, for a total transaction of $421,360.00. Following the sale, the executive vice president now directly owns 142,393 shares in the company, valued at $7,499,839.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at . Also, CEO John J. Ferriola sold 3,203 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $54.00, for a total transaction of $172,962.00. Following the completion of the transaction, the chief executive officer now directly owns 453,954 shares in the company, valued at $24,513,516. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.
Several large investors have recently modified their holdings of NUE. Marshall Wace North America L.P. bought a new position in Nucor in the first quarter valued at approximately $54,000. FMR LLC boosted its holdings in shares of Nucor by 123.0% in the 1st quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after purchasing an additional 371,876 shares in the last quarter. Coastal Investment Advisors Inc. boosted its holdings in shares of Nucor by 79.9% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 556 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 247 shares in the last quarter. National Asset Management Inc. bought a new position in shares of Nucor in the 2nd quarter valued at $215,000. Finally, Investment Counselors of Maryland LLC increased its stake in shares of Nucor by 4.4% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 23,479 shares of the basic materials company’s stock valued at $1,294,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 78.41% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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