Nucor (NYSE:NUE) Releases Q4 2024 Earnings Guidance

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

Nucor Price Performance

Shares of NUE stock traded down $1.09 during trading hours on Monday, hitting $124.16. The company’s stock had a trading volume of 3,078,645 shares, compared to its average volume of 1,582,569. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $149.13 and a 200-day moving average of $151.29. Nucor has a twelve month low of $123.01 and a twelve month high of $203.00. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 12.10 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.57 earnings per share. As a group, equities research analysts anticipate that Nucor will post 8.5 EPS for the current year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a $0.55 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio is presently 21.26%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Nucor Company Profile

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.