Brokerages expect Nucor Co. (NYSE:NUE) to announce sales of $4.44 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Nucor’s earnings, with the lowest sales estimate coming in at $4.37 billion and the highest estimate coming in at $4.51 billion. Nucor posted sales of $5.46 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.7%. The firm is scheduled to announce its next earnings report on Tuesday, October 27th.
According to Zacks, analysts expect that Nucor will report full year sales of $19.08 billion for the current financial year, with estimates ranging from $18.86 billion to $19.31 billion. For the next fiscal year, analysts anticipate that the business will post sales of $19.75 billion, with estimates ranging from $19.07 billion to $20.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Nucor.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.43 billion. Nucor had a return on equity of 7.95% and a net margin of 2.49%. The firm’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS.
In other news, CEO Leon J. Topalian sold 9,389 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $43.18, for a total transaction of $405,417.02. Following the completion of the transaction, the chief executive officer now owns 118,090 shares of the company’s stock, valued at approximately $5,099,126.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.39% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Manchester Financial Inc. acquired a new stake in Nucor in the second quarter worth about $27,000. Berman Capital Advisors LLC raised its position in shares of Nucor by 72.6% in the second quarter. Berman Capital Advisors LLC now owns 706 shares of the basic materials company’s stock worth $28,000 after buying an additional 297 shares in the last quarter. Ameritas Investment Company LLC raised its position in shares of Nucor by 104.2% in the first quarter. Ameritas Investment Company LLC now owns 782 shares of the basic materials company’s stock worth $28,000 after buying an additional 399 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Nucor in the first quarter worth $54,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Nucor in the second quarter worth $41,000. 74.61% of the stock is owned by institutional investors.
NUE traded down $1.01 during trading on Wednesday, hitting $44.67. The stock had a trading volume of 1,894,545 shares, compared to its average volume of 2,502,546. The company has a 50 day moving average price of $46.02 and a 200-day moving average price of $41.13. The firm has a market cap of $13.49 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 1.77 and a beta of 1.45. Nucor has a one year low of $27.52 and a one year high of $58.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.39 and a quick ratio of 2.68.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.4025 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 3.60%. Nucor’s dividend payout ratio (DPR) is currently 37.35%.
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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