Nucor Corporation (NUE) Releases Earnings Results, Beats Expectations By $0.04 EPS

Nucor Corporation (NUE) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $0.73 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.69. The company posted revenue of $4246.00 million in the period, compared to analysts expectations of $4508.36 million. The company’s revenue was down -2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Nucor Corporation. Nucor Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jul 20, 2016. Company shares were Upgraded by Deutsche Bank on Jul 6, 2016 to ” Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $52 .Company shares were Reiterated by Rosenblatt on May 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 51 from a previous price target of $47 .

Nucor Corporation closed down -1.62 points or -2.91% at $54.09 with 55,42,286 shares getting traded on Wednesday. Post opening the session at $54.48, the shares hit an intraday low of $53.51 and an intraday high of $54.54 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 3, 2016, Robert J Stratman (Executive Vice President) sold 52,631 shares at $49.90 per share price. According to the SEC, on Apr 29, 2016, D. Chad Utermark (Executive Vice President) sold 2,050 shares at $50.65 per share price. On Feb 23, 2016, Raymond S Jr Napolitan (Executive Vice President) sold 7,000 shares at $39.94 per share price, according to the Form-4 filing with the securities and exchange commission.

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. In the steel mills segment Nucor produces and distributes sheet steel plate steel structural steel and bar steel. In the steel products segment Nucor produces steel joists and joist girders steel deck fabricated concrete reinforcing steel cold finished steel steel fasteners metal building systems steel grating and expanded metal and wire and wire mesh. In the raw materials segment the Company produces DRI; brokers ferrous and nonferrous metals pig iron HBI and DRI; supplies ferro-alloys and processes ferrous and nonferrous scrap metal.

Nucor Corporation

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