Nucor (NYSE:NUE) Announces Quarterly Earnings Results

Nucor (NYSE:NUE) issued its quarterly earnings results on Monday. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37, Briefing.com reports. Nucor had a net margin of 10.45% and a return on equity of 15.68%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm earned $5.81 EPS. The firm’s revenue was down 15.2% compared to the same quarter last year. Nucor updated its Q3 guidance to below $2.68 EPS.

Nucor Price Performance

NYSE:NUE opened at $154.82 on Thursday. Nucor has a 52 week low of $140.07 and a 52 week high of $203.00. The stock’s fifty day moving average is $161.02 and its two-hundred day moving average is $175.79. The company has a market capitalization of $37.12 billion, a P/E ratio of 9.11 and a beta of 1.57. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.40%. Nucor’s payout ratio is 12.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BMO Capital Markets cut their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Bank of America dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target for the company. Finally, StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Hold” and a consensus price target of $191.29.

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.