Wall Street analysts predict that United States Steel Co. (NYSE:X) will report $3.06 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for United States Steel’s earnings, with the highest sales estimate coming in at $3.09 billion and the lowest estimate coming in at $3.03 billion. United States Steel posted sales of $2.65 billion during the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The business is expected to announce its next quarterly earnings results on Tuesday, January 30th.
On average, analysts expect that United States Steel will report full-year sales of $3.06 billion for the current fiscal year, with estimates ranging from $12.01 billion to $12.22 billion. For the next fiscal year, analysts expect that the firm will report sales of $12.48 billion per share, with estimates ranging from $12.22 billion to $12.73 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow United States Steel.
United States Steel (NYSE:X) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the firm earned $0.40 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis.
In other news, Director Eugene Sperling acquired 1,000 shares of United States Steel stock in a transaction that occurred on Friday, September 15th. The stock was bought at an average price of $25.16 per share, with a total value of $25,160.00. Following the completion of the purchase, the director now owns 3,009 shares in the company, valued at $75,706.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David J. Rintoul sold 7,090 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $32.00, for a total transaction of $226,880.00. Following the transaction, the senior vice president now directly owns 62,899 shares of the company’s stock, valued at approximately $2,012,768. The disclosure for this sale can be found here. Insiders sold 26,355 shares of company stock valued at $804,830 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in United States Steel by 0.4% during the second quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock valued at $317,570,000 after acquiring an additional 63,943 shares in the last quarter. Amerigo Asset Management bought a new stake in United States Steel during the third quarter valued at approximately $158,558,000. State Street Corp lifted its position in United States Steel by 6.2% during the second quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock valued at $130,394,000 after purchasing an additional 341,591 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in United States Steel by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock valued at $71,851,000 after purchasing an additional 236,714 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in United States Steel by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock valued at $50,558,000 after purchasing an additional 41,931 shares during the last quarter. 64.27% of the stock is owned by institutional investors.
United States Steel (X) traded up $0.74 on Thursday, hitting $31.85. 13,235,677 shares of the company were exchanged, compared to its average volume of 16,538,748. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.89 and a quick ratio of 1.23. United States Steel has a one year low of $18.55 and a one year high of $41.83. The company has a market capitalization of $5,560.00, a price-to-earnings ratio of 20.86 and a beta of 3.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a $0.05 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. United States Steel’s payout ratio is 29.41%.
United States Steel Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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