Nucor (NYSE:NUE) Updates Q1 Earnings Guidance

by · The Markets Daily

Nucor (NYSE:NUE – Get Free Report) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.50-0.60 for the period, compared to the consensus earnings per share estimate of $1.06.

Nucor Price Performance

NYSE NUE traded down $1.63 during trading hours on Thursday, reaching $129.42. The company’s stock had a trading volume of 2,792,286 shares, compared to its average volume of 1,824,183. The firm has a market capitalization of $29.84 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The company’s 50-day moving average is $130.36 and its two-hundred day moving average is $138.07.

Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the previous year, the business posted $3.16 earnings per share. On average, equities analysts predict that Nucor will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.70%. Nucor’s payout ratio is 26.16%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NUE shares. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Jefferies Financial Group increased their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

View Our Latest Analysis on NUE

Nucor Company Profile

(Get Free Report)

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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