Equities research analysts expect that United States Steel Co. (NYSE:X) will report $3.25 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for United States Steel’s earnings. The lowest sales estimate is $3.21 billion and the highest is $3.30 billion. United States Steel posted sales of $3.15 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The company is expected to announce its next earnings report after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that United States Steel will report full year sales of $14.02 billion for the current fiscal year, with estimates ranging from $13.65 billion to $14.44 billion. For the next year, analysts forecast that the company will post 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 sell-side analysts that cover United States Steel.
United States Steel (NYSE:X) last released its quarterly earnings results on Wednesday, January 30th. The basic materials company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.01). United States Steel had a net margin of 7.86% and a return on equity of 25.39%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year.
Shares of NYSE X traded down $0.24 during mid-day trading on Monday, hitting $16.42. 11,889,118 shares of the stock traded hands, compared to its average volume of 10,062,305. The company has a quick ratio of 0.86, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. United States Steel has a 52 week low of $16.28 and a 52 week high of $39.23. The firm has a market capitalization of $2.85 billion, a PE ratio of 3.06, a P/E/G ratio of 0.96 and a beta of 2.84.
In other United States Steel news, CFO Kevin Bradley purchased 10,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was purchased at an average price of $22.79 per share, for a total transaction of $227,900.00. Following the completion of the purchase, the chief financial officer now directly owns 122,830 shares of the company’s stock, valued at $2,799,295.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of X. Baird Financial Group Inc. increased its position in United States Steel by 58.8% during the third quarter. Baird Financial Group Inc. now owns 15,399 shares of the basic materials company’s stock valued at $466,000 after acquiring an additional 5,701 shares during the last quarter. LPL Financial LLC increased its position in United States Steel by 4.3% during the third quarter. LPL Financial LLC now owns 214,999 shares of the basic materials company’s stock valued at $6,553,000 after acquiring an additional 8,899 shares during the last quarter. BlueMountain Capital Management LLC increased its position in United States Steel by 779.9% during the third quarter. BlueMountain Capital Management LLC now owns 33,716 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 29,884 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in United States Steel by 4.3% during the third quarter. The Manufacturers Life Insurance Company now owns 293,454 shares of the basic materials company’s stock valued at $8,945,000 after acquiring an additional 12,203 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in United States Steel by 29.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,690 shares of the basic materials company’s stock valued at $692,000 after acquiring an additional 5,115 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.
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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