Nucor Co. (NYSE:NUE) – Research analysts at KeyCorp issued their FY2021 earnings per share estimates for shares of Nucor in a research note issued on Monday, March 23rd. KeyCorp analyst P. Gibbs forecasts that the basic materials company will post earnings of $4.00 per share for the year. KeyCorp has a “Overweight” rating and a $43.00 price target on the stock.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, January 28th. The basic materials company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.21. Nucor had a return on equity of 12.12% and a net margin of 5.63%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the firm posted $2.07 EPS. The business’s revenue was down 18.5% compared to the same quarter last year.
Several other brokerages have also weighed in on NUE. BMO Capital Markets dropped their target price on Nucor from $57.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 20th. Credit Suisse Group dropped their target price on Nucor from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Goldman Sachs Group lowered Nucor from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $60.00 to $55.00 in a research report on Friday, January 31st. Zacks Investment Research raised Nucor from a “strong sell” rating to a “hold” rating and set a $41.00 target price on the stock in a research report on Friday, January 31st. Finally, Longbow Research raised Nucor from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.09.
Shares of NUE stock opened at $33.54 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.34 and a quick ratio of 1.78. Nucor has a fifty-two week low of $27.52 and a fifty-two week high of $61.17. The stock’s 50-day moving average is $41.06 and its two-hundred day moving average is $50.46. The firm has a market cap of $9.63 billion, a P/E ratio of 8.10, a PEG ratio of 0.72 and a beta of 1.61.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its holdings in shares of Nucor by 2,031.8% during the 4th quarter. Macquarie Group Ltd. now owns 134,347 shares of the basic materials company’s stock valued at $7,562,000 after acquiring an additional 128,045 shares during the last quarter. Filbrandt Wealth Management LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $90,000. RNC Capital Management LLC bought a new stake in Nucor during the 4th quarter valued at approximately $362,000. Green Square Asset Management LLC boosted its stake in Nucor by 5.8% during the 4th quarter. Green Square Asset Management LLC now owns 130,082 shares of the basic materials company’s stock valued at $7,321,000 after purchasing an additional 7,177 shares during the period. Finally, Norges Bank bought a new stake in Nucor during the 4th quarter valued at approximately $163,844,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Monday, March 30th. Nucor’s dividend payout ratio is 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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