Analysts Anticipate United States Steel Co. (X) Will Post Quarterly Sales of $3.24 Billion

Wall Street brokerages expect that United States Steel Co. (NYSE:X) will announce $3.24 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for United States Steel’s earnings, with estimates ranging from $3.21 billion to $3.29 billion. United States Steel reported sales of $3.15 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The business is scheduled to issue its next earnings results on Thursday, April 25th.

According to Zacks, analysts expect that United States Steel will report full year sales of $14.01 billion for the current fiscal year, with estimates ranging from $13.72 billion to $14.44 billion. For the next financial year, analysts forecast that the firm will post sales of $14.07 billion, with estimates ranging from $13.83 billion to $14.42 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow United States Steel.

United States Steel (NYSE:X) last issued its quarterly earnings data on Wednesday, January 30th. The basic materials company reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.01). The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 25.39% and a net margin of 7.86%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share.

X has been the subject of several recent analyst reports. Zacks Investment Research lowered United States Steel from a “hold” rating to a “strong sell” rating in a report on Saturday, January 12th. Jefferies Financial Group lowered United States Steel from a “buy” rating to a “hold” rating and set a $21.15 target price for the company. in a report on Tuesday, January 22nd. Berenberg Bank raised United States Steel from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Thursday, February 21st. Longbow Research lowered United States Steel from a “buy” rating to a “neutral” rating and set a $21.40 target price for the company. in a report on Friday, January 18th. Finally, Morgan Stanley raised United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 target price for the company in a report on Monday, January 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. United States Steel presently has an average rating of “Hold” and a consensus price target of $27.33.

In other news, CFO Kevin Bradley acquired 10,000 shares of United States Steel stock in a transaction on Friday, February 15th. The stock was acquired at an average cost of $22.79 per share, with a total value of $227,900.00. Following the completion of the acquisition, the chief financial officer now owns 122,830 shares in the company, valued at $2,799,295.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of X. We Are One Seven LLC purchased a new stake in shares of United States Steel during the fourth quarter worth $25,000. Quantamental Technologies LLC purchased a new stake in shares of United States Steel in the fourth quarter worth $33,000. Rational Advisors LLC raised its position in shares of United States Steel by 999.7% in the fourth quarter. Rational Advisors LLC now owns 3,453 shares of the basic materials company’s stock worth $63,000 after buying an additional 3,139 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of United States Steel by 1,747.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,290,225 shares of the basic materials company’s stock worth $71,000 after buying an additional 1,220,388 shares in the last quarter. Finally, Destination Wealth Management purchased a new stake in shares of United States Steel in the fourth quarter worth $84,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

X traded up $0.11 during midday trading on Friday, reaching $19.49. 6,851,693 shares of the company were exchanged, compared to its average volume of 8,639,076. 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 firm has a market capitalization of $3.36 billion, a P/E ratio of 3.64, a P/E/G ratio of 1.04 and a beta of 2.87. United States Steel has a one year low of $17.08 and a one year high of $39.23.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, February 12th. United States Steel’s dividend payout ratio (DPR) is 3.73%.

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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