Nucor (NYSE:NUE – Get Rating) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.30-6.40 for the period, compared to the consensus estimate of $7.76. Nucor also updated its Q3 2022 guidance to $6.30-$6.40 EPS.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on NUE shares. StockNews.com downgraded Nucor from a buy rating to a hold rating in a research report on Tuesday. The Goldman Sachs Group decreased their price target on shares of Nucor from $148.00 to $130.00 and set a neutral rating for the company in a research report on Tuesday, May 31st. Citigroup increased their price objective on Nucor to $145.00 in a research note on Tuesday. BMO Capital Markets cut their price target on Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. Finally, Morgan Stanley reduced their price target on Nucor from $121.00 to $115.00 and set an equal weight rating on the stock in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Nucor has an average rating of Hold and a consensus target price of $136.00.
Nucor Stock Down 9.0 %
Ad Ally Robotics
Final Month To Invest In The Founder Leading Robots Into A Golden Age
Ally Robotics CEO Mitch Tolson helped develop a $500 million food robotics titan. His next move: produce a robot for 70% cheaper that requires no code to operate. Become an Ally Robotics shareholder before their raise closes on September 29.
Nucor stock traded down $12.22 during mid-day trading on Wednesday, hitting $123.88. The company had a trading volume of 66,164 shares, compared to its average volume of 2,882,662. The stock has a market cap of $32.43 billion, a price-to-earnings ratio of 3.89 and a beta of 1.39. The company has a quick ratio of 1.39, a current ratio of 2.62 and a debt-to-equity ratio of 0.37. Nucor has a 1 year low of $88.50 and a 1 year high of $187.90. The business has a fifty day moving average of $130.21 and a 200 day moving average of $133.74.
Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, topping the consensus estimate of $8.91 by $0.76. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The firm had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.59 billion. During the same period last year, the business earned $5.04 EPS. Nucor’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, sell-side analysts expect that Nucor will post 31.01 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, EVP Kenneth Rex Query sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total value of $708,200.00. Following the completion of the sale, the executive vice president now directly owns 76,100 shares of the company’s stock, valued at $10,778,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $122.17, for a total transaction of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares of the company’s stock, valued at approximately $7,829,508.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 5,000 shares of Nucor stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the completion of the transaction, the executive vice president now owns 76,100 shares in the company, valued at $10,778,804. The disclosure for this sale can be found here. Insiders have sold 57,175 shares of company stock worth $6,616,198 in the last quarter. 0.46% of the stock is owned by insiders.
Institutional Investors Weigh In On Nucor
Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new position in Nucor during the 1st quarter worth $492,000. Ethic Inc. purchased a new position in Nucor during the first quarter worth about $401,000. International Assets Investment Management LLC lifted its position in Nucor by 10.4% in the first quarter. International Assets Investment Management LLC now owns 2,431 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 229 shares during the period. Fund Management at Engine No. 1 LLC purchased a new stake in Nucor in the 1st quarter valued at approximately $342,000. Finally, Verition Fund Management LLC acquired a new position in Nucor during the 2nd quarter worth approximately $309,000. Hedge funds and other institutional investors own 79.07% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products. The company’s 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Nucor, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Nucor wasn’t on the list.
While Nucor currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Techyrack Website stock market day trading and youtube monetization and adsense Approval
Adsense Arbitrage website traffic Get Adsense Approval Google Adsense Earnings Traffic Arbitrage YouTube Monetization YouTube Monetization, Watchtime and Subscribers Ready Monetized Autoblog
from NYSE Updates – My Blog https://ift.tt/QJFhkYO
via IFTTT
No comments:
Post a Comment