Nucor Co. (NYSE:NUE) – Analysts at KeyCorp lowered their FY2019 earnings estimates for shares of Nucor in a report released on Tuesday, May 21st. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $5.40 for the year, down from their prior forecast of $5.42. KeyCorp currently has a “Overweight” rating and a $66.00 price objective on the stock.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the business earned $1.17 EPS. Nucor’s revenue for the quarter was up 9.5% compared to the same quarter last year.
Several other equities analysts have also weighed in on NUE. Zacks Investment Research lowered Nucor from a “hold” rating to a “strong sell” rating in a research note on Friday, February 1st. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Finally, UBS Group set a $59.00 price objective on Nucor and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Nucor currently has an average rating of “Buy” and a consensus price target of $69.25.
Shares of Nucor stock opened at $51.39 on Friday. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. Nucor has a twelve month low of $49.79 and a twelve month high of $68.84. The stock has a market capitalization of $16.36 billion, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46.
In other news, EVP Leon J. Topalian sold 1,253 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the completion of the sale, the executive vice president now directly owns 46,593 shares in the company, valued at $2,655,335.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $56.20, for a total value of $3,656,428.20. Following the completion of the sale, the chairman now owns 403,735 shares of the company’s stock, valued at $22,689,907. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,314 shares of company stock valued at $4,310,637. 0.96% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of NUE. Pinnacle Bank acquired a new position in Nucor in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC acquired a new position in Nucor in the fourth quarter valued at approximately $27,000. WealthBridge Capital Management LLC acquired a new position in Nucor during the first quarter worth $29,000. Ropes Wealth Advisors LLC acquired a new position in Nucor during the first quarter worth $34,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Nucor during the fourth quarter worth $38,000. Institutional investors and hedge funds own 77.39% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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