Nucor Co. (NUE) Expected to Announce Quarterly Sales of $5.49 Billion

Wall Street analysts forecast that Nucor Co. (NYSE:NUE) will report sales of $5.49 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Nucor’s earnings. The lowest sales estimate is $5.34 billion and the highest is $5.61 billion. Nucor posted sales of $4.82 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The firm is expected to report its next quarterly earnings results on Thursday, April 19th.

On average, analysts expect that Nucor will report full year sales of $5.49 billion for the current year, with estimates ranging from $20.39 billion to $24.51 billion. For the next fiscal year, analysts forecast that the business will post sales of $23.38 billion per share, with estimates ranging from $21.48 billion to $25.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Nucor.

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Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. Nucor’s revenue was up 28.7% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS.

A number of analysts have recently issued reports on the stock. ValuEngine downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Goldman Sachs assumed coverage on shares of Nucor in a report on Tuesday, March 20th. They set a “buy” rating and a $78.00 price target on the stock. Zacks Investment Research downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Morgan Stanley dropped their price target on shares of Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, February 6th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $76.00 price target on shares of Nucor in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $69.54.

In related news, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $69.12, for a total value of $207,360.00. Following the transaction, the director now owns 30,573 shares of the company’s stock, valued at $2,113,205.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $65.11, for a total transaction of $520,880.00. Following the completion of the transaction, the executive vice president now directly owns 78,381 shares in the company, valued at approximately $5,103,386.91. The disclosure for this sale can be found here. In the last three months, insiders sold 64,350 shares of company stock worth $4,312,607. 0.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Main Street Research LLC lifted its holdings in Nucor by 1.9% during the fourth quarter. Main Street Research LLC now owns 200,752 shares of the basic materials company’s stock valued at $12,764,000 after purchasing an additional 3,730 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Nucor by 330.3% during the fourth quarter. SG Americas Securities LLC now owns 63,096 shares of the basic materials company’s stock valued at $4,012,000 after purchasing an additional 48,432 shares in the last quarter. Bank of Montreal Can lifted its holdings in Nucor by 60.4% during the fourth quarter. Bank of Montreal Can now owns 514,931 shares of the basic materials company’s stock valued at $32,739,000 after purchasing an additional 194,001 shares in the last quarter. Capital One National Association lifted its holdings in Nucor by 20.1% during the fourth quarter. Capital One National Association now owns 8,784 shares of the basic materials company’s stock valued at $559,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in Nucor by 13.6% during the fourth quarter. Trust Co. of Vermont now owns 6,570 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 787 shares in the last quarter. 80.08% of the stock is currently owned by institutional investors.

NYSE:NUE opened at $61.09 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.19. The stock has a market cap of $19,422.77, a price-to-earnings ratio of 17.40, a PEG ratio of 0.96 and a beta of 1.51. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s payout ratio is 43.30%.

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About Nucor

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

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