Zacks: Brokerages Expect United States Steel Co. (X) Will Announce Earnings of $1.81 Per Share

Equities analysts predict that United States Steel Co. (NYSE:X) will post earnings of $1.81 per share for the current quarter, Zacks reports. Four analysts have issued estimates for United States Steel’s earnings, with the lowest EPS estimate coming in at $1.74 and the highest estimate coming in at $1.98. United States Steel reported earnings of $0.92 per share during the same quarter last year, which indicates a positive year over year growth rate of 96.7%. The firm is scheduled to issue its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that United States Steel will report full year earnings of $5.81 per share for the current year, with EPS estimates ranging from $5.45 to $6.27. For the next year, analysts anticipate that the company will post earnings of $6.04 per share, with EPS estimates ranging from $3.49 to $8.50. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for United States Steel.

United States Steel (NYSE:X) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.33. United States Steel had a return on equity of 18.70% and a net margin of 4.09%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $1.07 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year.

Several brokerages have recently commented on X. ValuEngine cut United States Steel from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Citigroup increased their target price on United States Steel from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 12th. Zacks Investment Research upgraded United States Steel from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, July 17th. TheStreet upgraded United States Steel from a “c” rating to a “b” rating in a report on Thursday, August 2nd. Finally, Morgan Stanley cut United States Steel from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $44.00 to $30.00 in a report on Monday, August 27th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.02.

Shares of X stock opened at $29.43 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a market cap of $5.16 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 0.63 and a beta of 3.16. United States Steel has a 52 week low of $23.39 and a 52 week high of $47.64.

The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Thursday, August 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, August 8th. United States Steel’s dividend payout ratio (DPR) is presently 10.31%.

Several institutional investors and hedge funds have recently modified their holdings of the company. A.R.T. Advisors LLC grew its holdings in shares of United States Steel by 1.7% during the first quarter. A.R.T. Advisors LLC now owns 83,900 shares of the basic materials company’s stock worth $2,952,000 after buying an additional 1,400 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of United States Steel by 5.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,804 shares of the basic materials company’s stock worth $988,000 after buying an additional 1,448 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of United States Steel by 0.6% during the second quarter. Retirement Systems of Alabama now owns 228,930 shares of the basic materials company’s stock worth $7,955,000 after buying an additional 1,458 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of United States Steel by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 47,800 shares of the basic materials company’s stock worth $1,661,000 after buying an additional 1,600 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of United States Steel by 23.2% during the second quarter. D.A. Davidson & CO. now owns 8,892 shares of the basic materials company’s stock worth $309,000 after buying an additional 1,676 shares in the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.

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: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.

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