Nucor (NYSE:NUE) Issues Q4 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.55-0.65 for the period, compared to the consensus estimate of $0.89. Nucor also updated its Q4 2024 guidance to 0.550-0.650 EPS.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. UBS Group reissued a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Morgan Stanley reduced their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Four 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.75.

Nucor Trading Down 2.6 %

Shares of Nucor stock opened at $120.96 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $148.02 and its 200-day simple moving average is $150.65. Nucor has a 52-week low of $119.44 and a 52-week high of $203.00. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 11.69 and a beta of 1.55.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.57 earnings per share. As a group, equities research analysts anticipate that Nucor will post 8.48 earnings per share for the current year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last ninety days. 0.46% of the stock is owned by company insiders.

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.