$2.75 Billion in Sales Expected for United States Steel Co. (NYSE:X) This Quarter

Equities analysts expect United States Steel Co. (NYSE:X) to post sales of $2.75 billion for the current quarter, according to Zacks. Four analysts have issued estimates for United States Steel’s earnings. The lowest sales estimate is $2.63 billion and the highest is $2.88 billion. United States Steel posted sales of $3.69 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 25.5%. The business is expected to announce its next earnings results on Wednesday, January 29th.

On average, analysts expect that United States Steel will report full-year sales of $12.86 billion for the current fiscal year, with estimates ranging from $12.74 billion to $12.99 billion. For the next year, analysts forecast that the firm will report sales of $12.22 billion, with estimates ranging from $11.74 billion to $12.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover United States Steel.

United States Steel (NYSE:X) last issued its earnings results on Thursday, October 31st. The basic materials company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. United States Steel had a return on equity of 10.57% and a net margin of 4.56%. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business earned $1.79 EPS. United States Steel’s quarterly revenue was down 17.7% compared to the same quarter last year.

A number of brokerages recently issued reports on X. Cfra cut United States Steel from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Macquarie cut United States Steel from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $18.00 to $9.00 in a report on Thursday, September 19th. Berenberg Bank cut United States Steel from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Argus cut United States Steel from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut United States Steel from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $14.00 in a report on Monday, September 23rd. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. United States Steel presently has a consensus rating of “Hold” and a consensus price target of $15.83.

Shares of X traded up $0.20 during trading hours on Friday, reaching $13.34. The stock had a trading volume of 13,364,900 shares, compared to its average volume of 12,588,711. United States Steel has a 12 month low of $9.93 and a 12 month high of $24.74. The firm has a 50-day simple moving average of $12.60 and a 200 day simple moving average of $12.89. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 2.49, a P/E/G ratio of 35.14 and a beta of 3.12.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, November 12th. United States Steel’s dividend payout ratio is presently 3.73%.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in United States Steel by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 2,304,508 shares of the basic materials company’s stock worth $35,282,000 after purchasing an additional 80,654 shares during the period. Morgan Stanley increased its stake in United States Steel by 27.3% in the 2nd quarter. Morgan Stanley now owns 2,303,479 shares of the basic materials company’s stock worth $35,266,000 after purchasing an additional 494,085 shares during the period. Canada Pension Plan Investment Board increased its stake in United States Steel by 402.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,475,957 shares of the basic materials company’s stock worth $22,597,000 after purchasing an additional 1,181,957 shares during the period. Parametric Portfolio Associates LLC increased its stake in United States Steel by 84.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,265,209 shares of the basic materials company’s stock worth $19,370,000 after purchasing an additional 579,394 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in United States Steel by 11,651.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,261,286 shares of the basic materials company’s stock worth $19,310,000 after purchasing an additional 1,250,553 shares during the period. 70.48% of the stock is owned by hedge funds and other institutional investors.

About United States Steel

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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Earnings History and Estimates for United States Steel (NYSE:X)

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