United States Steel Co. (NYSE:X) Expected to Post Quarterly Sales of $2.73 Billion

Brokerages expect that United States Steel Co. (NYSE:X) will report $2.73 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for United States Steel’s earnings, with the lowest sales estimate coming in at $2.59 billion and the highest estimate coming in at $2.88 billion. United States Steel reported sales of $3.69 billion during the same quarter last year, which would indicate a negative year over year growth rate of 26%. The business is expected to announce its next earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that United States Steel will report full-year sales of $12.85 billion for the current year, with estimates ranging from $12.71 billion to $12.99 billion. For the next financial year, analysts anticipate that the firm will report sales of $11.92 billion, with estimates ranging from $11.15 billion to $12.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover United States Steel.

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

Several analysts recently issued reports on X shares. ValuEngine upgraded shares of United States Steel from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. cut United States Steel from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $14.00 in a report on Monday, September 23rd. Berenberg Bank downgraded United States Steel from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. BNP Paribas assumed coverage on United States Steel in a research note on Thursday, November 14th. They set a “sell” rating and a $10.50 price objective for the company. Finally, Macquarie cut United States Steel from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $18.00 to $9.00 in a report on Thursday, September 19th. Eight equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.01.

X traded up $0.09 on Monday, hitting $10.62. The company had a trading volume of 218,030 shares, compared to its average volume of 12,858,767. The firm has a market cap of $1.80 billion, a P/E ratio of 1.98 and a beta of 3.03. United States Steel has a 1 year low of $9.93 and a 1 year high of $24.74. The company’s fifty day moving average price is $12.29 and its 200 day moving average price is $12.52. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.64.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Howe & Rusling Inc. bought a new stake in shares of United States Steel during the third quarter valued at approximately $29,000. Quadrant Capital Group LLC grew its holdings in shares of United States Steel by 92.1% during the third quarter. Quadrant Capital Group LLC now owns 4,156 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,993 shares in the last quarter. Coastal Investment Advisors Inc. grew its holdings in shares of United States Steel by 38.4% during the third quarter. Coastal Investment Advisors Inc. now owns 7,904 shares of the basic materials company’s stock worth $93,000 after buying an additional 2,193 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of United States Steel in the second quarter valued at about $100,000. Finally, FNY Investment Advisers LLC raised its position in shares of United States Steel by 15.6% in the third quarter. FNY Investment Advisers LLC now owns 8,900 shares of the basic materials company’s stock valued at $102,000 after buying an additional 1,198 shares during the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.

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

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