Nucor (NYSE:NUE) Issues Q4 Earnings Guidance

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

Nucor Price Performance

NYSE NUE traded down $1.09 during trading hours on Monday, reaching $124.16. The company's stock had a trading volume of 3,078,645 shares, compared to its average volume of 1,582,569. The company has a market capitalization of $29.15 billion, a price-to-earnings ratio of 12.10 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor has a 1 year low of $123.01 and a 1 year high of $203.00. The firm's 50-day moving average price is $149.13 and its 200-day moving average price is $151.29.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 earnings per share. The business's quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts predict that Nucor will post 8.5 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.77%. This is an increase from Nucor's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor's dividend payout ratio is presently 21.26%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Argus upgraded shares of Nucor to a "strong-buy" rating in a report on Monday, August 26th. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They set a "buy" rating and a $190.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $183.75.

Insider Buying and Selling

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares of the company's stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.46% of the company's stock.

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.

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