Nucor Co. (NYSE:NUE) – Equities researchers at KeyCorp increased their Q1 2019 earnings estimates for shares of Nucor in a report issued on Sunday, March 3rd. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $1.53 per share for the quarter, up from their previous forecast of $1.52. KeyCorp has a “Buy” rating and a $72.00 price objective on the stock. KeyCorp also issued estimates for Nucor’s FY2019 earnings at $5.40 EPS.
Get Nucor alerts:Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.14. The company had revenue of $6.30 billion during the quarter, compared to analyst estimates of $6.29 billion. Nucor had a net margin of 9.42% and a return on equity of 24.57%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS.
NUE has been the subject of several other research reports. ValuEngine cut shares of Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. Cowen initiated coverage on shares of Nucor in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 price target for the company. Credit Suisse Group upgraded shares of Nucor from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. Finally, UBS Group set a $59.00 price target on shares of Nucor and gave the stock a “hold” rating in a research note on Monday, December 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.45.
Nucor stock opened at $59.65 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.45 and a current ratio of 3.08. Nucor has a 1-year low of $49.79 and a 1-year high of $69.79. The stock has a market capitalization of $19.21 billion, a P/E ratio of 7.83, a PEG ratio of 0.85 and a beta of 1.51.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, March 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. Nucor’s payout ratio is presently 21.00%.
In other Nucor news, Chairman John J. Ferriola sold 87,719 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $60.35, for a total transaction of $5,293,841.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC acquired a new stake in Nucor in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC acquired a new position in Nucor during the fourth quarter worth about $38,000. Capital Investment Advisory Services LLC purchased a new position in Nucor during the fourth quarter worth about $39,000. Oakworth Capital Inc. purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $43,000. Finally, Essex Savings Bank purchased a new stake in Nucor during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Nucor Company Profile
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.
Further Reading: What is a blue-chip stock?
No comments:
Post a Comment