Make $500/month with Nucor stock before Q3 earning

Nucor Corporation NUE will report its third-quarter earnings before the opening bell on Monday, Oct. 21.

Analysts predict earnings of $1.47 per share, down from $4.57 last year. Nucor’s revenue is expected to be $7.28 billion for the quarter, per Benzinga Pro.

On Oct. 9, JPMorgan analyst Bill Peterson maintained an Overweight rating on Nucor but reduced the price target from $174 to $170.

With growing interest, Nucor offers a dividend yield of 1.37%, or 54 cents quarterly ($2.16 annually).

To earn $500/month from dividends, you would need roughly $439,174 or 2,778 shares. For $100/month, you would need about $87,898 or 556 shares.

Calculation: Divide desired annual income ($6,000 or $1,200) by the annual dividend ($2.16). For $500 per month: $6,000 / $2.16 = 2,778 shares; for $100/month: $1,200 / $2.16 = 556 shares.

Note: Dividend yield fluctuates based on stock price and dividend payments.

Dividend Yield Insight: The yield is calculated by dividing the annual dividend by the stock’s price. For example, if a stock pays $2 and is priced at $50, the yield is 4% ($2/$50). If the price rises to $60, the yield drops to 3.33% ($2/$60). If the price falls to $40, it rises to 5% ($2/$40).

NUE Price Update: Nucor shares rose 2.5% to close at $158.09 on Thursday.

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Courtesy of Nucor Corporation