Nucor Corporation (NUE) Set to Announce Quarterly Earnings on Tuesday

Nucor Corporation (NUE) Set to Announce Quarterly Earnings on Tuesday

Nucor Corporation (NYSE:NUE) will be issuing its Q416 quarterly earnings data on Tuesday, January 31st. Analysts expect the company to announce earnings of $0.40 per share and revenue of $3.78 billion for the quarter.

Shares of Nucor Corporation (NYSE:NUE) opened at 61.01 on Monday. The stock has a 50 day moving average price of $61.27 and a 200-day moving average price of $54.40. Nucor Corporation has a 52 week low of $37.71 and a 52 week high of $68.00. The firm has a market capitalization of $19.43 billion, a price-to-earnings ratio of 38.27 and a beta of 1.50.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, December 30th will be given a $0.3775 dividend. The ex-dividend date is Wednesday, December 28th. This is a boost from Nucor Corporation’s previous quarterly dividend of $0.38. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.48%. Nucor Corporation’s dividend payout ratio is 94.38%.

A number of analysts have weighed in on NUE shares. Zacks Investment Research raised Nucor Corporation from a “strong sell” rating to a “hold” rating in a research report on Friday, November 11th. Argus reaffirmed a “buy” rating and set a $65.00 price objective (up from $58.00) on shares of Nucor Corporation in a research report on Monday, November 21st. Macquarie cut Nucor Corporation from a “neutral” rating to an “underperform” rating in a research report on Tuesday, November 29th. Deutsche Bank AG increased their price objective on Nucor Corporation from $55.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, December 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $77.00 price objective (up from $55.00) on shares of Nucor Corporation in a research report on Tuesday, December 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $60.19.

A number of institutional investors have recently added to or reduced their stakes in NUE. AQR Capital Management LLC boosted its stake in Nucor Corporation by 314.1% in the second quarter. AQR Capital Management LLC now owns 915,942 shares of the company’s stock valued at $45,257,000 after buying an additional 694,744 shares during the period. BlackRock Fund Advisors boosted its stake in Nucor Corporation by 7.8% in the second quarter. BlackRock Fund Advisors now owns 5,430,759 shares of the company’s stock valued at $268,334,000 after buying an additional 390,724 shares during the period. American Century Companies Inc. boosted its stake in Nucor Corporation by 20.0% in the second quarter. American Century Companies Inc. now owns 2,019,648 shares of the company’s stock valued at $99,791,000 after buying an additional 337,158 shares during the period. Thrivent Financial for Lutherans boosted its stake in Nucor Corporation by 2,984.9% in the second quarter. Thrivent Financial for Lutherans now owns 288,129 shares of the company’s stock valued at $14,238,000 after buying an additional 278,789 shares during the period. Finally, Korea Investment CORP boosted its stake in Nucor Corporation by 307.7% in the second quarter. Korea Investment CORP now owns 319,600 shares of the company’s stock valued at $15,791,000 after buying an additional 241,200 shares during the period. 77.46% of the stock is owned by institutional investors.

About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.

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