A few analysts have released opinions on NUE of late. After $1.11 actual EPS reported by Nucor Corporation for the previous quarter, Wall Street now forecasts 18.92% EPS growth. Generally speaking, earnings are expected to fall in coming quarters. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.67 billion.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, April 20th. The basic materials company reported $1.11 EPS for the quarter, missing the Zacks' consensus estimate of $1.14 by $0.03. Nucor had a return on equity of 9.32% and a net margin of 4.53%. The company's revenue was up 29.6% compared to the same quarter a year ago. The business's revenue for the quarter was up 29.6% compared to the same quarter past year. However, recent weakness in energy prices and higher OCTG (oil country tubular goods) imports don't bode well for U.S. Steel Corporation's Tubular operations. UBS downgraded the stock to "Neutral" rating in Wednesday, March 16 report. JP Morgan maintained the shares of FTE1 in report on Saturday, January 30 with "Neutral" rating.
We rate Nucor shares Buy in light of conviction around rising steel prices in 2017E. BidaskClub upgraded shares of Nucor Corporation from a "sell" rating to a "hold" rating in a research note on Tuesday. They set a "neutral" rating on the stock. This is using a scale where a 5 would represent a Strong Buy, a 4 would equal a Moderate Buy, 3 a hold, 2 a moderate sell, and a rating of 1 would indicate a Strong Sell. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Nucor Corporation presently has an average rating of Buy and an average target price of $68.97.
In related news, CFO James D. Frias sold 52,631 shares of Nucor stock in a transaction that occurred on Wednesday, March 15th. Relative volume is ratio between current volume and 3-month average value, intraday adjusted. Following the transaction, the chief financial officer now owns 174,037 shares in the company, valued at approximately $10,889,495.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The shares were sold at an average price of $61.52, for a total value of $184,560.00. Following the sale, the director now owns 33,703 shares in the company, valued at $2,073,408.56. The disclosure for this sale can be found here. It is positive, as 42 investors sold DE shares while 337 reduced holdings. Advantage Investment Management LLC boosted its stake in Nucor Corporation by 164.9% in the first quarter. The stock of Deere & Company (NYSE:DE) has "Buy" rating given on Thursday, December 1 by Bank of America. Ardevora Asset Management LLP acquired a new stake in Nucor Corporation during the fourth quarter worth $26,361,000. Bank of Nova Scotia increased its stake in Nucor by 927.9% in the first quarter. Insiders own 0.70% of the company's stock. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Nucor Corporation during the fourth quarter valued at $127,000. Bragg Financial Advisors Inc now owns 11,384 shares of the basic materials company's stock valued at $680,000 after buying an additional 287 shares in the last quarter. The New York-based Salzhauer Michael has invested 0.43% in the stock. Checchi Capital Advisers Ltd has invested 0.18% in Deere & Company (NYSE:DE). 2,245,557 shares of the stock traded hands. NUE is down around 24.19% from its 12-month high of $44.81 notched on Sep 14, 2016 but is -15.04% above its highest point the past 12 months of $68 a share. The company has a market cap of $17.92 billion, a price-to-earnings ratio of 16.9215 and a beta of 1.52. The firm has a 50-day moving average price of $59.00 and a 200-day moving average price of $60.65.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Deere & Company (NYSE:DE) has risen 46.99% since June 15, 2016 and is uptrending. This dividend represents a yeild of $2.52 which is the dividend as a percentage of the current share price. Moreover, Blackrock Grp Incorporated has 0.09% invested in Nucor Corporation (NYSE:NUE) for 3.16 million shares.
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Nucor Corporation (Nucor) manufactures steel and steel products.
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