$3.06 Billion in Sales Expected for United States Steel Corporation (X) This Quarter

Equities research analysts predict that United States Steel Corporation (NYSE:X) will post $3.06 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for United States Steel Corporation’s earnings, with the lowest sales estimate coming in at $3.03 billion and the highest estimate coming in at $3.09 billion. United States Steel Corporation reported sales of $2.65 billion in the same quarter last year, which indicates a positive year over year growth rate of 15.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, January 30th.

On average, analysts expect that United States Steel Corporation will report full-year sales of $3.06 billion for the current year, with estimates ranging from $12.01 billion to $12.22 billion. For the next financial year, analysts forecast that the business will report sales of $12.48 billion per share, with estimates ranging from $12.22 billion to $12.73 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for United States Steel Corporation.

United States Steel Corporation (NYSE:X) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. United States Steel Corporation had a net margin of 1.05% and a return on equity of 10.27%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis.

A number of equities research analysts have commented on X shares. Axiom Securities reaffirmed a “sell” rating on shares of United States Steel Corporation in a research report on Tuesday, July 25th. Credit Suisse Group reissued an “outperform” rating and set a $34.00 price objective (up previously from $29.00) on shares of United States Steel Corporation in a research report on Wednesday, July 26th. Longbow Research reaffirmed a “neutral” rating and issued a $30.00 target price on shares of United States Steel Corporation in a report on Wednesday, July 26th. Cowen and Company upped their target price on shares of United States Steel Corporation from $21.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $51.00 target price on shares of United States Steel Corporation in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. United States Steel Corporation presently has an average rating of “Hold” and a consensus target price of $29.34.

In related news, Director Murry Gerber bought 4,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were acquired at an average cost of $26.89 per share, for a total transaction of $107,560.00. Following the purchase, the director now directly owns 168,457 shares of the company’s stock, valued at $4,529,808.73. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eugene Sperling bought 1,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was bought at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the completion of the purchase, the director now directly owns 3,009 shares in the company, valued at $75,706.44. The disclosure for this purchase can be found here. Insiders have purchased a total of 64,597 shares of company stock worth $1,764,452 over the last quarter. 1.00% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its stake in United States Steel Corporation by 0.4% in the 2nd quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock worth $317,570,000 after acquiring an additional 63,943 shares in the last quarter. Amerigo Asset Management bought a new position in United States Steel Corporation in the 3rd quarter worth about $158,558,000. State Street Corp boosted its stake in shares of United States Steel Corporation by 6.2% during the second quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock valued at $130,394,000 after purchasing an additional 341,591 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of United States Steel Corporation by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock valued at $71,851,000 after purchasing an additional 236,714 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of United States Steel Corporation by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock valued at $50,558,000 after purchasing an additional 41,931 shares in the last quarter. Institutional investors and hedge funds own 64.73% of the company’s stock.

United States Steel Corporation (X) traded up $0.31 during trading hours on Friday, reaching $28.16. 7,173,597 shares of the company’s stock were exchanged, compared to its average volume of 16,841,873. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.89. United States Steel Corporation has a fifty-two week low of $18.55 and a fifty-two week high of $41.83. The company has a market cap of $4,930.00, a P/E ratio of 19.08 and a beta of 2.96.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.20 annualized dividend and a yield of 0.71%. United States Steel Corporation’s payout ratio is 29.41%.

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United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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

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