Zacks Research Has Bullish Forecast for Nucor Q4 Earnings

Nucor Co. (NYSE:NUE) – Equities researchers at Zacks Research increased their Q4 2024 earnings estimates for Nucor in a research note issued to investors on Monday, November 11th. Zacks Research analyst R. Department now expects that the basic materials company will earn $1.01 per share for the quarter, up from their previous estimate of $1.00. The consensus estimate for Nucor’s current full-year earnings is $8.60 per share. Zacks Research also issued estimates for Nucor’s Q1 2025 earnings at $2.20 EPS, Q1 2026 earnings at $3.10 EPS, Q2 2026 earnings at $3.52 EPS and Q3 2026 earnings at $2.64 EPS.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, Morgan Stanley cut their price objective 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. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Down 3.3 %

NUE opened at $153.84 on Wednesday. The business’s fifty day simple moving average is $148.18 and its 200 day simple moving average is $155.39. Nucor has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a market cap of $36.12 billion, a PE ratio of 14.86 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Transactions at Nucor

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,712 shares of company stock worth $3,980,235. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Nucor

Hedge funds and other institutional investors have recently modified their holdings of the business. McClarren Financial Advisors Inc. grew its holdings in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor during the 3rd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC increased its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

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.