Nucor (NYSE:NUE) Issues Q4 2024 Earnings Guidance

Nucor (NYSE:NUE) issued an update on its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.550-0.650 for the period, compared to the consensus estimate of 0.860. The company issued revenue guidance of -. Nucor also updated its Q4 guidance to $0.55-0.65 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NUE shares. BMO Capital Markets decreased their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.75.

Nucor Stock Down 0.9 %

NUE stock opened at $124.16 on Tuesday. The company has a market capitalization of $29.15 billion, a P/E ratio of 12.00 and a beta of 1.55. Nucor has a 12 month low of $123.01 and a 12 month high of $203.00. The firm’s fifty day simple moving average is $148.56 and its 200-day simple moving average is $150.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business posted $4.57 EPS. As a group, equities research analysts forecast that Nucor will post 8.48 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by company insiders.

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.