Equities analysts expect Nucor Co. (NYSE:NUE) to announce sales of $6.50 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nucor’s earnings, with the lowest sales estimate coming in at $6.02 billion and the highest estimate coming in at $6.75 billion. Nucor posted sales of $5.17 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.7%. The business is expected to announce its next earnings report on Thursday, October 18th.
According to Zacks, analysts expect that Nucor will report full-year sales of $24.74 billion for the current fiscal year, with estimates ranging from $23.58 billion to $25.48 billion. For the next fiscal year, analysts anticipate that the business will report sales of $24.02 billion, with estimates ranging from $20.06 billion to $26.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Nucor.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.03). The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Nucor had a return on equity of 16.22% and a net margin of 7.58%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the business earned $1.00 earnings per share.
In other news, CEO John J. Ferriola sold 14,607 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $68.25, for a total value of $996,927.75. Following the transaction, the chief executive officer now directly owns 374,542 shares in the company, valued at $25,562,491.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Sumoski sold 51,238 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $66.65, for a total value of $3,415,012.70. Following the completion of the transaction, the insider now owns 139,839 shares in the company, valued at $9,320,269.35. The disclosure for this sale can be found here. Insiders sold 119,328 shares of company stock worth $8,074,991 over the last 90 days. Company insiders own 0.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in NUE. Financial Gravity Wealth Inc. purchased a new position in shares of Nucor in the first quarter valued at about $198,000. Aperio Group LLC increased its holdings in shares of Nucor by 9.6% in the first quarter. Aperio Group LLC now owns 99,531 shares of the basic materials company’s stock worth $6,080,000 after purchasing an additional 8,726 shares during the last quarter. KBC Group NV increased its holdings in shares of Nucor by 14.7% in the first quarter. KBC Group NV now owns 34,010 shares of the basic materials company’s stock worth $2,078,000 after purchasing an additional 4,353 shares during the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of Nucor by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 48,929 shares of the basic materials company’s stock worth $2,989,000 after purchasing an additional 2,560 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Nucor by 24.9% in the first quarter. Toronto Dominion Bank now owns 172,375 shares of the basic materials company’s stock worth $10,528,000 after purchasing an additional 34,342 shares during the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.
Shares of NUE stock traded down $1.37 on Friday, reaching $63.29. The stock had a trading volume of 1,935,004 shares, compared to its average volume of 2,521,061. The company has a market cap of $20.15 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.54. Nucor has a 1 year low of $53.71 and a 1 year high of $70.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.05 and a quick ratio of 1.55.
Nucor declared that its Board of Directors has approved a stock buyback plan on Thursday, September 6th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, September 28th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.52 annualized dividend and a dividend yield of 2.40%. Nucor’s payout ratio is 43.30%.
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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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