Jefferies Group Analysts Cut Earnings Estimates for United States Steel Co. (X)

United States Steel Co. (NYSE:X) – Jefferies Group lowered their FY2017 EPS estimates for United States Steel in a research note issued on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings per share of $1.87 for the year, down from their previous estimate of $1.88. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for United States Steel’s FY2018 earnings at $2.87 EPS.

A number of other brokerages have also issued reports on X. Bank of America set a $32.00 price objective on United States Steel and gave the stock a “buy” rating in a report on Friday, October 20th. ValuEngine raised United States Steel from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Cowen reissued a “hold” rating and issued a $40.00 price objective on shares of United States Steel in a report on Thursday, January 4th. Citigroup increased their price objective on United States Steel from $20.00 to $22.00 and gave the stock a “sell” rating in a report on Friday, September 15th. Finally, Axiom Securities raised United States Steel from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $41.83 to $18.55 in a report on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $31.14.

United States Steel (X) opened at $39.14 on Thursday. United States Steel has a fifty-two week low of $18.55 and a fifty-two week high of $41.83. The stock has a market capitalization of $6,850.00, a P/E ratio of 57.56 and a beta of 3.00. 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 (NYSE:X) last posted its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.25. United States Steel had a return on equity of 22.00% and a net margin of 4.53%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year.

Several large investors have recently made changes to their positions in X. First Trust Advisors LP acquired a new stake in shares of United States Steel during the 2nd quarter valued at $1,908,000. Utah Retirement Systems lifted its position in shares of United States Steel by 13.5% during the 2nd quarter. Utah Retirement Systems now owns 31,847 shares of the basic materials company’s stock valued at $705,000 after acquiring an additional 3,800 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of United States Steel during the 2nd quarter valued at $271,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of United States Steel by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 674 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of United States Steel by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 739,081 shares of the basic materials company’s stock valued at $16,363,000 after acquiring an additional 25,518 shares during the last quarter. Institutional investors own 64.22% of the company’s stock.

In other United States Steel news, insider Richard Fruehauf sold 5,959 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $178,770.00. Following the completion of the transaction, the insider now directly owns 7,960 shares of the company’s stock, valued at approximately $238,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Colleen M. Darragh sold 1,060 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $37.85, for a total value of $40,121.00. Following the transaction, the vice president now directly owns 18,076 shares of the company’s stock, valued at $684,176.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,698 shares of company stock valued at $2,535,286. 1.00% of the stock is currently owned by corporate insiders.

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About United States Steel

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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