Nucor Co. (NYSE:NUE) – Equities researchers at KeyCorp issued their Q3 2019 earnings per share (EPS) estimates for shares of Nucor in a report released on Monday, June 17th, Zacks Investment Research reports. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings per share of $1.17 for the quarter. KeyCorp has a “Overweight” rating and a $61.00 price target on the stock. KeyCorp also issued estimates for Nucor’s Q4 2019 earnings at $1.15 EPS and FY2020 earnings at $4.26 EPS.
A number of other research analysts also recently issued reports on the company. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. UBS Group set a $70.00 price target on Lumentum and gave the company a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank set a $18.00 price target on Commercial Metals and gave the company a “buy” rating in a report on Thursday, May 30th. Goldman Sachs Group raised to a “buy” rating and set a GBX 1,180 ($15.42) price target on the stock in a report on Tuesday, June 4th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.11.
Shares of NYSE:NUE traded up $1.07 during midday trading on Thursday, reaching $55.17. 1,619,508 shares of the company’s stock traded hands, compared to its average volume of 2,411,028. The company has a market capitalization of $16.82 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.59. The company has a current ratio of 3.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.40. Nucor has a one year low of $47.13 and a one year high of $68.84. The stock’s 50 day moving average price is $52.58.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.05. The business had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.05 billion. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, June 27th. Nucor’s dividend payout ratio is 21.00%.
In other Nucor news, EVP Leon J. Topalian sold 1,253 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the completion of the sale, the executive vice president now owns 46,593 shares in the company, valued at $2,655,335.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the sale, the insider now owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. In the last three months, insiders sold 76,314 shares of company stock worth $4,310,637. 0.96% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NUE. Pinnacle Bank purchased a new stake in shares of Nucor during the fourth quarter worth about $26,000. Lindbrook Capital LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $27,000. Ropes Wealth Advisors LLC purchased a new stake in shares of Nucor during the first quarter worth about $34,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $38,000. Finally, Berman Capital Advisors LLC grew its position in shares of Nucor by 37.9% during the first quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 76.40% 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.