United States Steel Corporation (X) Expected to Post Quarterly Sales of $3.06 Billion
Wall Street analysts expect United States Steel Corporation (NYSE:X) to report $3.06 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for United States Steel Corporation’s earnings. The lowest sales estimate is $3.03 billion and the highest is $3.09 billion. United States Steel Corporation reported sales of $2.65 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that United States Steel Corporation will report full year sales of $3.06 billion for the current financial year, with estimates ranging from $12.01 billion to $12.22 billion. For the next year, analysts anticipate that the business will post sales of $12.48 billion per share, with estimates ranging from $12.22 billion to $12.73 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow United States Steel Corporation.
United States Steel Corporation (NYSE:X) last posted its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.07 billion. United States Steel Corporation had a return on equity of 10.27% and a net margin of 1.05%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS.
X has been the topic of several research reports. Bank of America Corporation raised United States Steel Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $31.00 in a research report on Tuesday, September 5th. Argus lifted their price objective on United States Steel Corporation to $1.48 and gave the company a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of United States Steel Corporation in a research report on Thursday, August 31st. BidaskClub raised United States Steel Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $24.00 price objective on shares of United States Steel Corporation in a research report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. United States Steel Corporation currently has an average rating of “Hold” and a consensus price target of $29.34.
In related news, Director Eugene Sperling bought 1,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was acquired at an average price of $25.16 per share, with a total value of $25,160.00. Following the transaction, the director now owns 3,009 shares in the company, valued at approximately $75,706.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Bradley bought 22,835 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $27.62 per share, with a total value of $630,702.70. Following the transaction, the chief financial officer now owns 30,415 shares in the company, valued at approximately $840,062.30. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 64,597 shares of company stock valued at $1,764,452. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position 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 purchasing an additional 63,943 shares during the period. Amerigo Asset Management bought a new stake in United States Steel Corporation in the 3rd quarter worth approximately $158,558,000. State Street Corp grew its position in United States Steel Corporation by 6.2% in the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock worth $130,394,000 after purchasing an additional 341,591 shares during the period. Dimensional Fund Advisors LP grew its position in United States Steel Corporation by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock worth $71,851,000 after purchasing an additional 236,714 shares during the period. Finally, Bank of New York Mellon Corp grew its position in United States Steel Corporation by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock worth $50,558,000 after purchasing an additional 41,931 shares during the period. 66.28% of the stock is owned by institutional investors and hedge funds.
Shares of United States Steel Corporation (X) opened at $27.28 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $4,750.00, a P/E ratio of 18.65 and a beta of 2.96. United States Steel Corporation has a 12-month low of $18.55 and a 12-month high of $41.83.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Thursday, November 9th. United States Steel Corporation’s dividend payout ratio (DPR) is presently 29.41%.
About United States Steel Corporation
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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