Nucor (NYSE:NUE – Get Free Report) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of below $2.68 for the period, compared to the consensus estimate of $2.35.
Nucor Stock Performance
Shares of NUE opened at $154.82 on Thursday. The stock has a 50 day moving average price of $161.02 and a 200 day moving average price of $175.79. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $37.12 billion, a price-to-earnings ratio of 9.11 and a beta of 1.57. Nucor has a 52-week low of $140.07 and a 52-week high of $203.00.
Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.68% and a net margin of 10.45%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the company posted $5.81 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. Research analysts predict that Nucor will post 10.72 EPS for the current fiscal year.
Nucor Dividend Announcement
Analyst Ratings Changes
NUE has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on Nucor in a research note on Monday, May 20th. They set a hold rating and a $190.00 price target for the company. BMO Capital Markets cut their price target 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 cut their price target on Nucor from $210.00 to $200.00 and set a buy rating for the company in a research note on Wednesday, June 26th. StockNews.com cut Nucor from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on Nucor from $180.00 to $170.00 and set a neutral rating for the company in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of Hold and an average price target of $191.29.
View Our Latest Research Report on Nucor
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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