Nucor Co. (NYSE:NUE) to Post Q2 2024 Earnings of $2.28 Per Share, Zacks Research Forecasts

Nucor Co. (NYSE:NUEFree Report) – Zacks Research lowered their Q2 2024 EPS estimates for Nucor in a report issued on Tuesday, June 18th. Zacks Research analyst M. Agrawal now expects that the basic materials company will post earnings per share of $2.28 for the quarter, down from their prior estimate of $3.08. The consensus estimate for Nucor’s current full-year earnings is $11.07 per share. Zacks Research also issued estimates for Nucor’s Q2 2025 earnings at $2.88 EPS.

NUE has been the subject of a number of other reports. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Jefferies Financial Group began coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets reduced their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $188.38.

Get Our Latest Stock Report on Nucor

Nucor Trading Up 0.5 %

Shares of NYSE:NUE opened at $157.58 on Friday. The business’s 50 day simple moving average is $170.20 and its 200 day simple moving average is $178.08. Nucor has a 1 year low of $140.07 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The company has a market capitalization of $37.78 billion, a P/E ratio of 9.27 and a beta of 1.60.

Nucor (NYSE:NUEGet Free Report) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the previous year, the company earned $4.45 EPS. The business’s revenue for the quarter was down 6.6% on a year-over-year basis.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Institutional Investors Weigh In On Nucor

A number of hedge funds and other institutional investors have recently bought and sold shares of NUE. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Nucor in the 3rd quarter worth approximately $2,033,000. CI Investments Inc. grew its holdings in shares of Nucor by 270.5% in the third quarter. CI Investments Inc. now owns 2,597 shares of the basic materials company’s stock valued at $406,000 after acquiring an additional 1,896 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Nucor in the 3rd quarter valued at $234,000. LPL Financial LLC grew its position in Nucor by 3.5% during the third quarter. LPL Financial LLC now owns 277,908 shares of the basic materials company’s stock valued at $43,451,000 after buying an additional 9,315 shares during the period. Finally, Mariner LLC increased its holdings in Nucor by 4.6% during the third quarter. Mariner LLC now owns 88,648 shares of the basic materials company’s stock worth $13,860,000 after buying an additional 3,929 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.