On Tuesday steel company Nucor Corporation (
) announced its fourth quarter guidance, with estimates below Wall
Street analysts' view.
The Charlotte, North Carolina-based company expects fourth
quarter earnings to be in the range of 25 cents to 30 cents per
share. Wall Street is expecting Nucor to earn 34 cents per share in
the fourth quarter.
Nucor's fourth quarter estimates represents a drop from third
quarter EPS of 35 cents and 2011 fourth quarter EPS of 43
The fourth quarter earnings estimates include an estimated LIFO
credit of $29 million compare to a credit of $84 million in the
third quarter and a charge of $52 million in the fourth quarter of
Nucor shares were down 46 cents, or -1.08%, in premarket trading
The Bottom Line
Shares of Nucor (
) have a 3.44% dividend yield, based on last night's closing stock
price of $42.76. The stock has technical support in the $38 price
area. If the shares can firm up, we see overhead resistance around
the $44-$46 price levels.
Nucor Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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, as well as a detailed explanation of
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