Dahlman Rose Reduces 2010, 2011 Earnings Estimates On Nucor (NUE)

Dahlman Rose & Co. has lowered its earnings estimates on Nucor

for 2010 and 2011. In the report, Dahlman Rose writes "Based upon our adjusted expectations for steel and steel mill utilization, we are decreasing our EPS and EBITDA estimates. We calculate that Nucor will generate EPS of $0.90 and $3.00 in 2010 and 2011, respectively, versus our previous estimates of $1.45 and $4.40. We are initiating a 3Q10 EPS estimate of $0.25. From an EBITDA perspective, we calculate that the company will generate $1.25 billion and $2.3 billion in 2010 and 2011, respectively, versus our previous estimates of $1.5 billion and $3.1 billion." Dahlman Rose rates the shares at a Hold. Shares are currently trading at $39.94‎, up 27‎ cents in pre-market trading.