Equities analysts expect United States Steel Co. (NYSE:X) to report sales of $3.37 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for United States Steel’s earnings. The highest sales estimate is $3.50 billion and the lowest is $3.23 billion. United States Steel posted sales of $3.61 billion in the same quarter last year, which suggests a negative year over year growth rate of 6.6%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, August 1st.
According to Zacks, analysts expect that United States Steel will report full-year sales of $13.19 billion for the current fiscal year, with estimates ranging from $12.86 billion to $13.39 billion. For the next year, analysts expect that the firm will post sales of $13.09 billion, with estimates ranging from $12.33 billion to $13.60 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow United States Steel.
United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.30. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.37 billion. United States Steel had a return on equity of 24.72% and a net margin of 7.92%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share.
A number of equities analysts have recently weighed in on the stock. BMO Capital Markets downgraded shares of Iamgold from an “outperform” rating to a “market perform” rating in a research note on Monday, May 6th. Goldman Sachs Group raised shares of to a “buy” rating and set a GBX 1,180 ($15.42) price target on the stock in a research note on Tuesday, June 4th. UBS Group set a $70.00 price target on shares of Lumentum and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Bank of America set a $77.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a research note on Friday, May 31st. Finally, Credit Suisse Group set a $170.00 price target on shares of Accenture and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. United States Steel has a consensus rating of “Hold” and a consensus price target of $18.94.
Shares of X traded up $0.39 during mid-day trading on Monday, reaching $15.07. The company’s stock had a trading volume of 10,562,299 shares, compared to its average volume of 10,344,645. The company has a fifty day moving average price of $14.15. The company has a market cap of $2.53 billion, a P/E ratio of 2.81, a price-to-earnings-growth ratio of 2.42 and a beta of 2.86. United States Steel has a 1 year low of $11.67 and a 1 year high of $38.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 1.47.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in United States Steel by 5.4% during the first quarter. BlackRock Inc. now owns 16,577,232 shares of the basic materials company’s stock worth $323,090,000 after buying an additional 846,135 shares during the last quarter. Bank of New York Mellon Corp increased its position in United States Steel by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,286,558 shares of the basic materials company’s stock worth $41,706,000 after buying an additional 287,808 shares during the last quarter. Norges Bank acquired a new position in United States Steel during the fourth quarter worth $34,731,000. Geode Capital Management LLC increased its position in United States Steel by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,844,328 shares of the basic materials company’s stock worth $33,639,000 after buying an additional 108,829 shares during the last quarter. Finally, Northern Trust Corp increased its position in United States Steel by 0.7% during the fourth quarter. Northern Trust Corp now owns 1,371,326 shares of the basic materials company’s stock worth $25,013,000 after buying an additional 8,996 shares during the last quarter. 62.66% of the stock is currently owned by hedge funds and other institutional investors.
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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