Nucor (NYSE:NUE) Releases Q3 Earnings Guidance

Nucor (NYSE:NUE) 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) 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

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

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.

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.