FY2024 Earnings Estimate for Nucor Issued By Seaport Res Ptn

Nucor Co. (NYSE:NUE) – Equities researchers at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Nucor in a research note issued to investors on Tuesday, October 22nd. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will earn $8.53 per share for the year, down from their prior forecast of $8.64. The consensus estimate for Nucor’s current full-year earnings is $9.08 per share. Seaport Res Ptn also issued estimates for Nucor’s Q4 2024 earnings at $0.90 EPS, Q2 2025 earnings at $3.30 EPS, Q3 2025 earnings at $2.86 EPS and Q4 2025 earnings at $2.36 EPS.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nucor has an average rating of “Moderate Buy” and an average price target of $190.57.

Nucor Stock Up 0.1 %

Nucor stock opened at $141.47 on Thursday. Nucor has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.85. The firm has a market capitalization of $33.58 billion, a price-to-earnings ratio of 13.67 and a beta of 1.55. The company’s 50 day simple moving average is $147.73 and its 200 day simple moving average is $159.27.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.57 earnings per share.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

A number of large investors have recently modified their holdings of NUE. Pacer Advisors Inc. raised its holdings in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after acquiring an additional 660,866 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Nucor by 14,525.9% during the 3rd quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock worth $49,144,000 after purchasing an additional 324,654 shares during the last quarter. Swedbank AB acquired a new position in shares of Nucor during the 1st quarter worth about $37,395,000. Captrust Financial Advisors lifted its stake in Nucor by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the last quarter. Finally, Trinity Street Asset Management LLP bought a new position in Nucor during the second quarter worth about $19,213,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.