Brokerages forecast that United States Steel Co. (NYSE:X) will post $3.25 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for United States Steel’s earnings, with the lowest sales estimate coming in at $3.21 billion and the highest estimate coming in at $3.30 billion. United States Steel posted sales of $3.15 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The business is scheduled to issue its next earnings report after the market closes on Thursday, May 2nd.

On average, analysts expect that United States Steel will report full-year sales of $14.02 billion for the current year, with estimates ranging from $13.65 billion to $14.44 billion. For the next year, analysts forecast that the business will report sales of $14.06 billion, with estimates ranging from $13.78 billion to $14.42 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover United States Steel.

United States Steel (NYSE:X) last announced its earnings results 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 business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share.

Several research analysts have recently weighed in on the company. Longbow Research downgraded United States Steel from a “buy” rating to a “neutral” rating and set a $21.40 price target for the company. in a research note on Friday, January 18th. Morgan Stanley upgraded United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price target for the company in a research note on Monday, January 28th. Credit Suisse Group downgraded United States Steel from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $13.00 in a research note on Tuesday, April 9th. Bank of America reiterated a “buy” rating and set a $31.00 price target (up previously from $28.00) on shares of United States Steel in a research note on Wednesday, February 27th. Finally, Jefferies Financial Group downgraded United States Steel from a “buy” rating to a “hold” rating and set a $21.15 price target for the company. in a research note on Tuesday, January 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. United States Steel currently has a consensus rating of “Hold” and an average price target of $23.90.

In related news, CFO Kevin Bradley bought 10,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was acquired at an average price of $22.79 per share, for a total transaction of $227,900.00. Following the purchase, the chief financial officer now directly owns 122,830 shares in the company, valued at $2,799,295.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in X. Norges Bank purchased a new stake in shares of United States Steel in the 4th quarter valued at about $34,731,000. Oregon Public Employees Retirement Fund raised its holdings in shares of United States Steel by 1,747.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,290,225 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 1,220,388 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of United States Steel in the 4th quarter valued at about $18,206,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of United States Steel in the 4th quarter valued at about $14,683,000. Finally, KBC Group NV raised its holdings in shares of United States Steel by 515.0% in the 4th quarter. KBC Group NV now owns 408,509 shares of the basic materials company’s stock valued at $7,451,000 after acquiring an additional 342,083 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of X stock traded down $0.24 on Monday, hitting $16.42. 11,889,118 shares of the stock were exchanged, compared to its average volume of 10,062,305. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 1.51. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 3.06, a PEG ratio of 0.96 and a beta of 2.84. United States Steel has a one year low of $16.28 and a one year high of $39.23.

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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