Jefferies Financial Group Comments on Nucor Co.’s Q1 2020 Earnings (NYSE:NUE)

Nucor Co. (NYSE:NUE) – Investment analysts at Jefferies Financial Group issued their Q1 2020 earnings per share estimates for shares of Nucor in a note issued to investors on Monday, January 20th. Jefferies Financial Group analyst M. Englert anticipates that the basic materials company will post earnings of $0.75 per share for the quarter. Jefferies Financial Group also issued estimates for Nucor’s FY2020 earnings at $3.80 EPS and FY2024 earnings at $5.74 EPS.

NUE has been the topic of a number of other reports. Longbow Research upgraded Nucor from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, December 9th. KeyCorp reiterated a “buy” rating and issued a $62.00 target price (up from $60.00) on shares of Nucor in a report on Wednesday, November 13th. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas assumed coverage on Nucor in a report on Thursday, November 14th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Zacks Investment Research upgraded Nucor from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Nucor currently has an average rating of “Buy” and a consensus price target of $61.20.

Shares of NUE opened at $52.36 on Wednesday. Nucor has a 12-month low of $46.10 and a 12-month high of $62.31. The business’s fifty day moving average is $55.57 and its 200 day moving average is $53.45. The company has a quick ratio of 1.78, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. The stock has a market cap of $16.32 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.11 and a beta of 1.63.

Nucor (NYSE:NUE) last issued its earnings results on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Nucor had a return on equity of 16.90% and a net margin of 7.62%. The company had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the business earned $2.33 EPS. Nucor’s quarterly revenue was down 19.0% compared to the same quarter last year.

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 paid a dividend of $0.4025 per share. The ex-dividend date of this dividend 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 3.07%. Nucor’s dividend payout ratio (DPR) is 21.13%.

In other Nucor news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $52.67, for a total transaction of $421,360.00. Following the transaction, the executive vice president now directly owns 142,393 shares in the company, valued at approximately $7,499,839.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John J. Ferriola sold 3,203 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $54.00, for a total value of $172,962.00. Following the transaction, the chief executive officer now owns 453,954 shares in the company, valued at $24,513,516. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. State Street Corp raised its stake in shares of Nucor by 1.0% during the 3rd quarter. State Street Corp now owns 18,663,092 shares of the basic materials company’s stock worth $957,529,000 after purchasing an additional 185,701 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Nucor by 363.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,139,227 shares of the basic materials company’s stock worth $117,872,000 after purchasing an additional 1,677,330 shares during the period. Prudential PLC increased its holdings in Nucor by 3.8% in the 2nd quarter. Prudential PLC now owns 1,967,900 shares of the basic materials company’s stock worth $108,431,000 after acquiring an additional 72,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Nucor by 1.7% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,688,752 shares of the basic materials company’s stock worth $93,049,000 after acquiring an additional 28,994 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Nucor by 31.9% in the 2nd quarter. Invesco Ltd. now owns 1,623,635 shares of the basic materials company’s stock worth $89,462,000 after acquiring an additional 392,215 shares during the last quarter. Institutional investors and hedge funds own 78.31% 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.

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