53.74 0.00 (0.00%)
After hours: 5:40PM EDT
|Bid||53.51 x 1300|
|Ask||54.00 x 1800|
|Day's Range||53.14 - 54.22|
|52 Week Range||47.13 - 68.84|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||6.74|
|Earnings Date||Jul 17, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||1.60 (2.97%)|
|1y Target Est||64.65|
Nucor Corp. hosted its 2019 Investor Day in New York on Thursday, projecting its vision for continued growth through investments on the heels of a strong first quarter and record-breaking 2018. John Ferriola, CEO of the Charlotte-based steel manufacturer, said the company has budgeted $3.45 billion in “strategic growth investments.” The projects are expected to start up between this year and late 2022. Several of the projects involved a desire for “moving up the value chain,” at the company’s Hickman, Arkansas, sheet facility. A $230 million specialty cold mill complex is now starting up there, while a $240 million hot band galvanizing line is targeted for completion in mid-2021. Jim Frias, Nucor executive vice president and chief financial officer, also laid out a goal of returning a minimum of 40% of earnings to shareholders through more growth, which the expansion projects can potentially provide.
It would be fair to say that the Section 232 exemptions were an enabler in Mexico ratifying the USMCA. The Trump administration has also tried to put some safeguards in place so that imports from Canada and Mexico don’t surge after the exemption. While these measures look positive, steel imports from Canada and Mexico could still rise.
Steel companies, including U.S. Steel, made plans to increase capacity to make up for lost imports due to tariffs. However, first quarter results reveal the company's most recent plans to idle three furnaces.
United States Steel Corporation (NYSE: X ) on Tuesday afternoon provided second-quarter 2019 guidance and sent out a warning to expect earnings to be adjusted. Second-quarter EBITDA will be around $250 ...
U.S. Steel’s guidance fell short of what analysts were expecting, just like Nucor and Steel Dynamics. U.S. Steel said that it expects to post adjusted EBITDA of $250 million in the second quarter. Analysts polled by Thomson Reuters expected the company to post EBITDA of $288 million in the second quarter.
CHARLOTTE, N.C. , June 18, 2019 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced it will host an Investor Day on Thursday, June 20, 2019 , in New York City . The event will begin at 8:15 a.m. ...
Nucor Corp NYSE:NUEView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is extremely low for NUE with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting NUE. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding NUE are favorable, with net inflows of $10.40 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Basic Materials sector is rising. The rate of growth is weak relative to the trend shown over the past year, but is accelerating. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. NUE credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
On June 17, Nucor (NUE), the largest US-based steel producer, released its second-quarter earnings guidance. The company expects to post EPS of $1.20–$1.25 in the quarter. In contrast, it posted EPS of $1.63 in the first quarter and $2.13 in the second quarter of 2018.
In its Section 232 steel probe, the Commerce Department pointed to the high steel import to export ratio. It emphasized the subsidized steel in other countries that makes US steel exports to those countries uncompetitive. Now, while US steel imports have fallen after the Section 232 tariffs, we’ve seen a steeper fall in US steel exports.
When it recommended Section 232 steel tariffs, the Commerce Department highlighted certain issues such as the fact that the US steel industry’s capacity utilization rate was below 80%, which is not sustainable. Now, 15 months into the tariffs, the Commerce Department seems to have achieved its objective, as the US steel industry has operated above the 80% utilization rate almost consistently over the last year.
It’s been more than 15 months since President Trump announced a 25% tariff on US steel imports and a 10% tariff on aluminum imports. The tariffs came into effect towards the end of March 2018 and have been a key bone of contention between the United States and its trading partners.
Nucor expects second quarter earnings to be in the range of $1.20 to $1.25 per diluted share. This range is a decrease compared to first quarter of 2019 earnings of $1.63 per diluted share and a decrease relative to second quarter of 2018 earnings of $2.13 per diluted share. Included in the first quarter of 2019 results was a benefit of $33.7 million, or $0.08 per diluted share, related to the gain on the sale of an equity method investment in the raw materials segment.
Is Nucor Corporation (NYSE:NUE) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before doing days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds have […]
CHARLOTTE, N.C. , June 6, 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 ...
Investing.com - United States Steel rallied on Tuesday despite Goldman Sachs downgrading the company and warning that the backdrop for the steel industry is flimsy amid "materially" lower steel prices.
For the second time in a week, a Wall Street analyst has downgraded a major U.S. steel stock. This time, it’s United States Steel Corporation (NYSE: X ) on the chopping block. The Analyst Goldman Sachs ...
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...