Nucor (NYSE:NUE) Announces Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Nucor (NYSE:NUE) released its quarterly earnings results on Monday. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37, Briefing.com reports. Nucor had a return on equity of 15.68% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the firm posted $5.81 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. Nucor updated its Q3 guidance to below $2.68 EPS.

Nucor Trading Down 2.8 %

Shares of NUE stock traded down $4.54 on Wednesday, hitting $157.01. The stock had a trading volume of 936,339 shares, compared to its average volume of 1,467,262. Nucor has a 1 year low of $140.07 and a 1 year high of $203.00. The firm has a market capitalization of $37.64 billion, a P/E ratio of 9.50 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The company’s 50 day moving average price is $161.45 and its 200-day moving average price is $175.94.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.38%. Nucor’s dividend payout ratio is presently 12.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NUE. BMO Capital Markets dropped their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. JPMorgan Chase & Co. decreased 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. Bank of America reduced their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. Finally, StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Nucor currently has an average rating of “Hold” and an average price target of $191.29.

About Nucor

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.