Equities research analysts expect United States Steel Co. (NYSE:X) to report sales of $3.24 billion for the current quarter, Zacks reports. Three analysts have made estimates for United States Steel’s earnings. The lowest sales estimate is $3.21 billion and the highest is $3.29 billion. United States Steel reported sales of $3.15 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The business is expected to issue its next earnings results on Thursday, April 25th.
According to Zacks, analysts expect that United States Steel will report full-year sales of $14.06 billion for the current year, with estimates ranging from $13.72 billion to $14.44 billion. For the next fiscal year, analysts forecast that the company will report sales of $14.12 billion, with estimates ranging from $13.83 billion to $14.42 billion. Zacks’ sales averages are an average based on a survey of analysts that follow United States Steel.
Get United States Steel alerts:United States Steel (NYSE:X) last posted its quarterly earnings data on Wednesday, January 30th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.01). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a net margin of 7.86% and a return on equity of 25.39%. The company’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share.
Several research firms have recently issued reports on X. Bank of America reiterated a “buy” rating and issued a $31.00 price objective (up from $28.00) on shares of United States Steel in a report on Wednesday. Berenberg Bank upgraded shares of United States Steel from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Thursday, February 21st. Argus decreased their price objective on shares of United States Steel from $30.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 1st. They noted that the move was a valuation call. Morgan Stanley upgraded shares of United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective for the company in a report on Monday, January 28th. Finally, Jefferies Financial Group cut shares of United States Steel from a “buy” rating to a “hold” rating and set a $21.15 target price for the company. in a report on Tuesday, January 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.61.
In other United States Steel news, CFO Kevin Bradley bought 10,000 shares of United States Steel stock in a transaction that occurred on Thursday, December 13th. The stock was purchased at an average cost of $20.33 per share, for a total transaction of $203,300.00. Following the completion of the acquisition, the chief financial officer now owns 112,830 shares of the company’s stock, valued at approximately $2,293,833.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.01% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Quad Capital Management Advisors LLC boosted its stake in United States Steel by 36,358.1% in the 4th quarter. Quad Capital Management Advisors LLC now owns 22,604 shares of the basic materials company’s stock worth $412,000 after purchasing an additional 22,542 shares during the period. Nordea Investment Management AB boosted its stake in United States Steel by 16.0% in the 4th quarter. Nordea Investment Management AB now owns 191,661 shares of the basic materials company’s stock worth $3,496,000 after purchasing an additional 26,431 shares during the period. HRT Financial LLC lifted its position in United States Steel by 25.7% in the 4th quarter. HRT Financial LLC now owns 39,799 shares of the basic materials company’s stock worth $725,000 after buying an additional 8,149 shares in the last quarter. Macquarie Group Ltd. lifted its position in United States Steel by 435.4% in the 4th quarter. Macquarie Group Ltd. now owns 34,000 shares of the basic materials company’s stock worth $620,000 after buying an additional 27,650 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in United States Steel by 1.1% in the 4th quarter. Legal & General Group Plc now owns 274,255 shares of the basic materials company’s stock worth $5,002,000 after buying an additional 3,093 shares in the last quarter. 64.05% of the stock is owned by hedge funds and other institutional investors.
United States Steel stock opened at $23.74 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $4.14 billion, a PE ratio of 4.43, a P/E/G ratio of 1.10 and a beta of 2.78. United States Steel has a 12-month low of $17.08 and a 12-month high of $47.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Wednesday, February 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, February 12th. United States Steel’s payout ratio is 3.73%.
United States Steel announced that its Board of Directors has authorized a share buyback program on Thursday, November 1st that allows the company to buyback $300.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
United States Steel Company Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.
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