Nucor Co. (NUE) to Post Q4 2017 Earnings of $0.55 Per Share, Jefferies Group Forecasts
Nucor Co. (NYSE:NUE) – Equities researchers at Jefferies Group reduced their Q4 2017 earnings per share estimates for Nucor in a note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will earn $0.55 per share for the quarter, down from their previous forecast of $0.78. Jefferies Group has a “Buy” rating and a $77.00 price objective on the stock.
Other equities analysts have also recently issued reports about the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.60 to $65.00 in a research note on Thursday, September 14th. Credit Suisse Group reduced their target price on Nucor from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. Bank of America reduced their target price on Nucor from $73.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 20th. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Longbow Research upgraded Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $68.19.
Nucor (NYSE:NUE) last released its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS.
A number of hedge funds have recently bought and sold shares of the business. Security National Bank of Sioux City Iowa IA lifted its stake in Nucor by 0.4% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock valued at $1,249,000 after buying an additional 77 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Nucor by 1.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,278 shares of the basic materials company’s stock valued at $421,000 after buying an additional 97 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in Nucor by 2.4% in the second quarter. Hillsdale Investment Management Inc. now owns 5,530 shares of the basic materials company’s stock valued at $320,000 after buying an additional 130 shares during the last quarter. Segment Wealth Management LLC lifted its stake in Nucor by 3.3% in the second quarter. Segment Wealth Management LLC now owns 4,140 shares of the basic materials company’s stock valued at $240,000 after buying an additional 132 shares during the last quarter. Finally, Veritable L.P. lifted its stake in Nucor by 2.0% in the second quarter. Veritable L.P. now owns 9,600 shares of the basic materials company’s stock valued at $556,000 after buying an additional 191 shares during the last quarter. Institutional investors own 74.31% of the company’s stock.
In other Nucor news, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total value of $913,912.40. Following the sale, the chairman now directly owns 349,506 shares in the company, valued at $21,110,162.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the sale, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The disclosure for this sale can be found here. Insiders have sold 80,754 shares of company stock worth $4,964,014 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 2.20%. Nucor’s dividend payout ratio (DPR) is 42.34%.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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