United States Steel Co. (X) Expected to Post Earnings of $1.97 Per Share

Equities analysts expect United States Steel Co. (NYSE:X) to post earnings of $1.97 per share for the current quarter, according to Zacks. Five analysts have provided estimates for United States Steel’s earnings, with the highest EPS estimate coming in at $2.14 and the lowest estimate coming in at $1.67. United States Steel posted earnings per share of $0.76 in the same quarter last year, which would suggest a positive year over year growth rate of 159.2%. The company is expected to report its next earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that United States Steel will report full-year earnings of $5.48 per share for the current year, with EPS estimates ranging from $5.25 to $5.58. For the next fiscal year, analysts anticipate that the business will report earnings of $5.67 per share, with EPS estimates ranging from $3.13 to $8.22. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for United States Steel.

United States Steel (NYSE:X) last announced its quarterly earnings results on Friday, November 2nd. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.06. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the company posted $0.92 earnings per share. United States Steel’s revenue for the quarter was up 14.8% on a year-over-year basis.

X has been the subject of a number of analyst reports. ValuEngine downgraded United States Steel from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Deutsche Bank cut United States Steel from a “buy” rating to a “hold” rating and dropped their price target for the stock from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Longbow Research dropped their price target on United States Steel from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley cut United States Steel from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $44.00 to $30.00 in a research report on Monday, August 27th. Finally, Credit Suisse Group dropped their price target on United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $39.19.

NYSE:X traded down $0.09 during trading hours on Monday, reaching $23.06. The company had a trading volume of 6,662,105 shares, compared to its average volume of 7,425,881. United States Steel has a 1-year low of $21.96 and a 1-year high of $47.64. The company has a market capitalization of $4.10 billion, a PE ratio of 11.89, a PEG ratio of 0.52 and a beta of 2.92. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 8th. United States Steel’s payout ratio is currently 10.31%.

United States Steel announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 1st that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

In related news, CFO Kevin Bradley bought 10,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was bought at an average cost of $29.53 per share, for a total transaction of $295,300.00. Following the acquisition, the chief financial officer now directly owns 102,785 shares in the company, valued at $3,035,241.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James E. Bruno sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $25.75, for a total value of $309,000.00. Following the completion of the sale, the vice president now owns 54,137 shares of the company’s stock, valued at $1,394,027.75. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC grew its holdings in shares of United States Steel by 131.7% during the 2nd quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 1,747 shares during the period. Exane Derivatives grew its holdings in shares of United States Steel by 364,000.0% during the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 3,640 shares during the period. Trustcore Financial Services LLC purchased a new position in shares of United States Steel during the 3rd quarter worth $128,000. Truvestments Capital LLC purchased a new position in shares of United States Steel during the 3rd quarter worth $143,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of United States Steel during the 3rd quarter worth $156,000. Institutional investors and hedge funds own 68.67% 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: 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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Earnings History and Estimates for United States Steel (NYSE:X)

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