Brokers Set Expectations for Nucor Co.’s Q4 2024 Earnings (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Equities research analysts at Seaport Res Ptn dropped their Q4 2024 earnings per share estimates for shares of Nucor in a research report issued on Tuesday, September 17th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $1.05 for the quarter, down from their prior forecast of $1.40. The consensus estimate for Nucor’s current full-year earnings is $9.95 per share. Seaport Res Ptn also issued estimates for Nucor’s Q2 2025 earnings at $3.62 EPS and FY2025 earnings at $12.18 EPS.

A number of other research firms have also recently issued reports on NUE. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday. Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley lowered their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Nucor Stock Performance

NYSE:NUE opened at $143.00 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The firm’s 50-day moving average is $150.15 and its 200-day moving average is $166.56. Nucor has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a market cap of $34.29 billion, a price-to-earnings ratio of 8.41 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm posted $5.81 earnings per share. Nucor’s revenue was down 15.2% compared to the same quarter last year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction 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 owns 99,049 shares in the company, valued at $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Nucor during the first quarter worth $90,216,000. Swedbank AB acquired a new stake in Nucor in the first quarter valued at $37,395,000. Captrust Financial Advisors grew its position in shares of 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 acquiring an additional 153,077 shares during the period. Finally, Trinity Street Asset Management LLP acquired a new position in shares of Nucor during the 2nd quarter worth about $19,213,000. 76.48% of the stock is owned by institutional investors and hedge funds.

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.