Nucor (NYSE:NUE) Updates Q3 2019 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its third quarter 2019 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.75-0.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.06.

NYSE:NUE opened at $53.09 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The firm’s fifty day moving average price is $50.53 and its two-hundred day moving average price is $54.45. Nucor has a one year low of $46.10 and a one year high of $66.03. The company has a market cap of $16.25 billion, a P/E ratio of 6.97, a P/E/G ratio of 0.93 and a beta of 1.62.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6 billion. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. As a group, equities research analysts expect that Nucor will post 4.77 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. Nucor’s dividend payout ratio (DPR) is presently 21.00%.

A number of analysts have weighed in on the stock. Goldman Sachs Group decreased their target price on shares of Nucor from $70.00 to $59.00 and set a buy rating for the company in a research report on Tuesday, June 4th. ValuEngine downgraded shares of Nucor from a hold rating to a sell rating in a research report on Thursday, August 1st. Deutsche Bank downgraded shares of Nucor from a buy rating to a hold rating in a research report on Thursday, May 30th. KeyCorp dropped their price objective on Nucor from $61.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, August 27th. Finally, Credit Suisse Group set a $61.00 target price on Nucor and gave the stock a buy rating in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $62.40.

In other Nucor news, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $56.32, for a total value of $406,292.48. Following the transaction, the insider now owns 143,826 shares of the company’s stock, valued at $8,100,280.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leon J. Topalian sold 5,798 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the completion of the transaction, the executive vice president now directly owns 93,559 shares in the company, valued at approximately $5,283,276.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,203 shares of company stock worth $3,465,601. Insiders own 0.96% of the company’s stock.

About Nucor

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.

Further Reading: Depreciation

Earnings History and Estimates for Nucor (NYSE:NUE)

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