NUE - Nucor Corporation
| Previous Close | 52.72 |
| Open | 52.78 |
| Bid | 52.70 x 900 |
| Ask | 52.72 x 1100 |
| Day's Range | 52.33 - 53.40 |
| 52 Week Range | 46.10 - 66.03 |
| Volume | 3,928,123 |
| Avg. Volume | 2,079,082 |
| Market Cap | 15.952B |
| Beta (3Y Monthly) | 1.64 |
| PE Ratio (TTM) | 7.41 |
| EPS (TTM) | 7.10 |
| Earnings Date | Oct 16, 2019 - Oct 21, 2019 |
| Forward Dividend & Yield | 1.60 (3.03%) |
| Ex-Dividend Date | 2019-09-26 |
| 1y Target Est | 59.38 |
- Zacks
U.S. Raw Steel Production Skids as Capacity Stays Below 80%
Capacity utilization, a key metric in the steel industry, remained below the important 80% level for the third straight week.
- Market Realist
US Steel Guidance: A Negative Read for Cleveland-Cliffs
Cleveland-Cliffs (CLF) and its US steel peers are on a roller-coaster ride in 2019. CLF fell 25.5% in August alone. Year-to-date, it's up 6.4%.
- Market Realist
US Steel Companies’ Guidance Opens a Can of Worms
This week, three leading US steel companies provided their third-quarter earnings guidances. All these guidances were lower than analysts were expecting.
- Benzinga
US Steel Joins Chorus of Steelmakers Warning Of Q3 Underperformance
United States Steel Corporation (NYSE: X) became the latest to warn of worsening fundamentals when it made a third-quarter pre-announcement late Wednesday. After the strength witnessed in the summer, the flat-rolled steel market has softened, U.S. Steel said. U.S. Steel now expects full-year flat-rolled shipments to third-party customers to be 10.7 million tons, as it expects to idle two of its U.S. blast furnaces to match supply with demand forecasts.
- Zacks
Do Downbeat Views Point to a Tough Q3 for US Steel Stocks?
Disappointing guidance from some of the major U.S. steel makers has raised worries about a possible weak Q3 earnings season for the U.S. steel industry.
- Barrons.com
Steel Dynamics Gave Earnings Guidance Below Street Views. Here’s Why It’s Good Enough.
The company guided investors to third-quarter earnings of about 68 cents a share, below Wall Street’s guess of 72 cents. Normally guiding below the consensus estimate would be a negative, but Steel Dynamics stock rose at the open and was recently down 1.1%. KeyBanc analyst Philip Gibbs is the low man on the Street with a 60-cent third-quarter estimate.
- Kiplinger
13 Super-Safe Dividend Stocks to Buy Now
The stock market's major indices are at or near all-time highs, and as stocks go up, dividend yields go down. As a result, many of the best dividend stocks to buy right now sport relatively modest yields.That's OK. Because your focus also should be on dividend safety and payout growth that will enhance your yield over time.Not every stock has been caught up in 2019's surge to new peaks. GameStop (GME), CenturyLink (CTL), Vodafone (VOD), Pitney Bowes (PBI), L Brands (LB), Deutsche Bank (DB) - all of these well-known companies have either cut or outright suspended their dividends this year. Those moves were a blow to all existing shareholders, but especially those who were relying on the income from these sometimes generous dividend payers to tackle regular expenses in retirement.How do you ensure the dividend stocks you're invested in won't do the same? One way is to monitor the DIVCON system from exchange-traded fund provider Reality Shares. DIVCON's methodology uses a five-tier rating to provide a snapshot of companies' dividend health, where DIVCON 5 indicates the highest probability for a dividend increase, and DIVCON 1 the highest probability for a dividend cut. And within each of these ratings is a composite score determined by cash flow, earnings, stock buybacks and other factors.These are 13 of the safest dividend stocks to buy right now. Each stock has not only achieved a DIVCON 5 score, but a composite score within the top 15 of all stocks that DIVCON has evaluated. This makes them the crème de la crème of dividend safety - and more likely to keep the dividend increases coming going forward. SEE ALSO: 25 Stocks Every Retiree Should Own
- Zacks
Nucor Provides Downbeat Q3 Earnings View on Lower Prices
Nucor (NUE) expects performance of the steel mills unit to sequentially decline in Q3 mainly due to lower prices for sheet and plate steel.
- Market Realist
‘Thriving’ US Steel Companies Face Moment of Truth
Last month, Trump claimed that the US steel industry is “thriving.” With US steel companies set to release their guidance, we may see if Trump is right.
- Benzinga
Nucor Lowers Q3 Earnings Guidance, Sees 'Softening' In Some Markets
Nucor Corporation (NYSE: NUE) lowered its earnings guidance for the third quarter ending Sept. 28 on Monday and said it expects earnings to be in the range of 75 cents to 80 cents per diluted share. The performance of the steel mills segment in the third quarter of 2019 is expected to decrease compared to the second quarter of 2019, primarily due to lower prices for sheet and plate steel. Nucor said it expects the profitability of the steel products segment to improve sequentially in the third quarter, as nonresidential construction market conditions remain strong.
- Bloomberg
Biggest U.S. Steelmaker's Profit Wanes as Auto Demand Weakens
(Bloomberg) -- Nucor Corp., the largest U.S. steelmaker, fell after saying its profit waned in the third quarter as prices decreased amid softening in several end markets.Third-quarter earnings will fall to a range of 75 cents to 80 cents, the Charlotte, North Carolina-based company said Monday in a statement. That compares with $2.13 a year earlier and estimates for profit in the current quarter of $1.03 a share, the average of three analysts surveyed by Bloomberg. The shares slipped 0.9% at 9:31 a.m. in New York.Performance in the steel mills segment is expected to decrease from the previous quarter “due primarily to lower prices for sheet and plate steel,” Nucor said. “Although we still see stability in most of the end use markets that we serve, there has been some softening in automotive, agricultural products and power transmission markets.”Steelmakers raised some prices earlier this quarter, but buyers have been slow to accept the increases, underscoring fading optimism more than a year after the introduction of U.S. tariffs meant to bolster the industry.“Plate was a major headwind in the quarter as prices came down rapidly and heavy discounting on sheet products also likely negatively impacted results versus the expectations,” Curt Woodworth, an analyst at Credit Suisse, said Monday in an email. “Sheet is heavily exposed to automotive, which was weak this quarter, but yes Nucor noted more end markets are slowing.”To contact the reporters on this story: Steven Frank in Toronto at sfrank9@bloomberg.net;Joe Deaux in New York at jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe Richter, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- MarketWatch
Nucor's stock drops after profit warning
Shares of Nucor Corp. slid 1.9% in premarket trading Monday, after the steel maker provided a third-quarter profit outlook that was well below expectations, as weakness in the steel mills and raw materials businesses amid lower steel prices and margin compression offsets some strength in the steel products segment. The company said it expects earnings per share for the current quarter of 75 cents to 80 cents, down from $2.13 in a year-ago period, and below sequential second-quarter EPS of $1.26. The FactSet consensus for net EPS is $1.08. Regarding the steel mills segment, the company said "there has been softening" in automotive, agricultural products and power transmission markets, while the steel products business is being supported by continued strength in the nonresidential construction market. Nucor's stock has gained 3.5% year to date through Friday, while the SPDR Materials Select Sector ETF has run up 17.1% and the S&P 500 has gained 20.0%.
- PR Newswire
Nucor Announces Guidance for Third Quarter of 2019 Earnings
CHARLOTTE, N.C. , Sept. 16, 2019 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced guidance for its third quarter ending September 28, 2019 . Nucor expects third quarter earnings to be in the ...
- Market Realist
US Steel Stocks: Decoding the Good and Bad News
US steel stocks are flying high this month. U.S. Steel Corporation (X) has gained 19.5% so far, while AK Steel (AKS) is up 31.0%.
- American City Business Journals
Is Nucor looking to appoint an independent board chairman?
There are signs that Nucor Corp. may be preparing to appoint a non-executive chairman when John Ferriola steps down Dec. 31.
- InvestorPlace
Wait for a Recession to Hit Before Buying U.S. Steel Stock
U.S. Steel (NYSE:X) stock has gotten hammered in the past year. X stock is down 58% over the past 52 weeks. Since January, shares have slid from around $18 a share down to about $12.23 a share at the close Sept. 9.U.S. Steel rebounded from all-time lows during the Great Recession, but despite a bull market since the early 2010s, the X stock price has failed to return to its all-time highs (well over $100 a share) in the late 2000s. * 10 Stocks to Sell in Market-Cursed September The economic upturn brought U.S. Steel back to profitability, but investors are wary of the company's future. As a result, shares trade at a low valuation.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIs X stock a value play? Or is the company your classic value trap? Let's take a closer look at U.S. Steel stock and see if shares are an opportunity. A Closer Look at X StockOver the past few years, U.S. Steel stock has returned to profitability. A booming economy drove revenue up from $10.3 billion in 2016 to $14.2 billion in 2018. As a result, the X stock price was as high as $38.89 per share in July 2018.But steel prices have been in decline since May 2018. A decrease in demand has been matched with a rise in iron ore prices. U.S. Steel's financial performance reflects this decreased demand. Net earnings for the quarter ending June 30, 2019 were $68 million. This is down from $214 million in the prior year's quarter. Adjusted quarterly EBITDA has fallen from $451 million in Q2 2018 to $278 million in Q2 2019.This performance decline could just be the beginning. The U.S.-China trade war adds additional risks to the X stock price. One would think that a 25% tariff on steel imports would buoy the domestic steel industry, but it has had the opposite effect. In response to the tariffs, the domestic steel industry ramped up production. Falling demand made profitability tougher, though producers such as Nucor (NYSE:NUE) can handle the pricing pressures. While Nucor operates lower-cost electric-arc furnaces (EAFs), legacy steel producers such as U.S. Steel struggle as their blast furnaces are expensive to operate.But the company has a plan in motion. U.S. Steel's Asset Revitalization Plan (ARP) will reduce the company's cost structure. The company invested $1.6 billion into three modernization projects. These projects could improve EBITDA by $390 million a year once complete.Is this enough to counter weak macroeconomic trends and domestic competition? Are investors currently compensated for these risks? Let's take a look at the valuation of U.S. Steel stock. U.S. Steel Stock Sells at a Fire Sale PriceCompared to its domestic peers, U.S. Steel stock is undervalued. The company's forward price/earnings (forward P/E) ratio of 21.5 is not lower than its peers AK Steel (NYSE:AKS) and Nucor. But on an enterprise value/EBITDA (EV/EBITDA) and a price/tangible book basis, shares are a bargain. U.S. Steel stock trades at an EV/EBITDA ratio of 3.24. Its Price/Tangible book value is 0.5. This means investors can buy the company for half the value of its assets. Here are the valuation metrics for AK Steel and Nucor:AK Steel: Forward P/E of 12.3, EV/EBITDA of 4.9, Price/Tangible Book of 6.05Nucor: Forward P/E of 11.3, EV/EBITDA of 4.8, Price/Tangible Book of 1.53The discount AKS and NUE could be justified. U.S. Steel's legacy mills are more capital-intensive than Nucor's mini-mills. But AK Steel is a legacy steel producer. This could mean the X stock price is undervalued. It could also indicate that AKS is overvalued and that the market is right on the money with U.S. Steel stock valuation.The price/tangible book value of X stock could also be misleading. It is not as if U.S. Steel could liquidate its steel mills and distribute the proceeds to shareholders. It could indicate that X stock is well-capitalized enough to survive a recession.As indicated in the Aug. 1 earnings call slides (referenced above), U.S. Steel's next significant debt maturity is not until 2025. X stock likely has the flexibility to ride out the upcoming recession. In the meantime, they can continue to modernize operations. This would bring the company's cost-structure closer to that of peers such as Nucor. Too Early to Dive in on X StockU.S. Steel stock is undervalued, but it may be too early to dive in and take a position. An anticipated recession has yet to make impact. Once it hits, there are likely further declines in the X stock price. But long-term, U.S. Steel may not be the dinosaur investor perception implies. They have the flexibility to further modernize their operations.However, the domestic steel industry remains a tough place to invest. Commodity prices, trade policy, and economic cycles dominate the sector's destiny. With U.S. Steel stock, it truly is a case of "it's darkest before dawn."While the sun has definitely set on the stock, the clock hasn't even struck midnight yet. Take your time with X stock. There may be a strong buying opportunity around the corner.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post Wait for a Recession to Hit Before Buying U.S. Steel Stock appeared first on InvestorPlace.
- Simply Wall St.
A Closer Look At Nucor Corporation's (NYSE:NUE) Impressive ROE
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
- Market Realist
Trade War Eases, Bringing Respite to US Steel Stocks
US steel stocks have been strong in September amid the trade war de-escalation. U.S. Steel and AK Steel are up 4.8% and 6.0%, respectively, this month.
- GuruFocus.com
2 Loyal Payers Announce Quarterly Dividends
Nucor, Harley-Davidson beat the index in terms of a higher yield Continue reading...
- American City Business Journals
Nucor CEO stepping down at the end of 2019, successor named
Nucor Corp.'s chairman and CEO, John Ferriola, will retire on Dec. 31. The company says Leon Topalian, currently the youngest member of Nucor's executive team, will take the chief executive position effective Jan. 1.
- PR Newswire
Nucor Announces John J. Ferriola Retirement as Chairman and CEO and Election of Leon J. Topalian as President and COO
CHARLOTTE, N.C., Sept. 6, 2019 /PRNewswire/ -- Nucor Corporation (NUE) announced today that John J. Ferriola, 67, will retire as Chairman and Chief Executive Officer (CEO) on December 31, 2019 and that the Board of Directors elected Leon J. Topalian, 51, to be President and Chief Operating Officer, effective September 5, 2019, and to succeed Mr. Ferriola as CEO on January 1, 2020, in connection with Nucor's planned succession process. Mr. Ferriola has served as Chairman since 2014 and as CEO since 2013. Previously, he served as President from 2011 to September 2019, President and Chief Operating Officer from 2011 to 2012, Chief Operating Officer of Steelmaking Operations from 2007 to 2010, Executive Vice President from 2002 to 2007, and Vice President from 1996 to 2001.
- PR Newswire
Nucor Announces 186th Consecutive Cash Dividend
CHARLOTTE, N.C. , Sept. 5, 2019 /PRNewswire/ -- The board of directors of Nucor Corporation (NYSE: NUE) declared the regular quarterly cash dividend of $0.40 per share on Nucor's common stock. This cash ...
- PR Newswire
Nucor Announces the Addition of Lieutenant General Nadja Y. West to the Nucor Board of Directors
CHARLOTTE, N.C. , Sept. 5, 2019 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that its board of directors has elected retired U.S. Army Lieutenant General Nadja Y. West as a director effective ...
- Zacks
Is Nucor (NUE) a Suitable Stock for Value Investors Now?
Let's see if Nucor (NUE) stock is a good choice for value-oriented investors right now from multiple angles.
