Nucor (NYSE:NUE) Updates Q4 2024 Earnings Guidance

Nucor (NYSE:NUE) updated its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.550-0.650 for the period, compared to the consensus EPS estimate of 0.860. The company issued revenue guidance of -.

Nucor Stock Down 0.9 %

Shares of NUE stock traded down $1.09 on Monday, reaching $124.16. 3,078,645 shares of the company’s stock traded hands, compared to its average volume of 1,582,569. The company has a market capitalization of $29.15 billion, a P/E ratio of 12.10 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The business’s 50 day moving average price is $149.13 and its two-hundred day moving average price is $151.29. Nucor has a 12-month low of $123.01 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter last year, the company posted $4.57 earnings per share. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. On average, equities analysts forecast that Nucor will post 8.5 earnings per share for the current year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is 21.26%.

Analyst Ratings Changes

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

Insider Activity at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 over the last quarter. 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.