Brokerages Expect United States Steel Co. (X) Will Announce Quarterly Sales of $3.65 Billion

Wall Street analysts expect United States Steel Co. (NYSE:X) to report sales of $3.65 billion for the current quarter, according to Zacks. Four analysts have issued estimates for United States Steel’s earnings, with estimates ranging from $3.51 billion to $3.87 billion. United States Steel posted sales of $3.61 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The company is expected to announce its next earnings report on Wednesday, August 7th.

On average, analysts expect that United States Steel will report full year sales of $14.07 billion for the current fiscal year, with estimates ranging from $13.68 billion to $14.66 billion. For the next fiscal year, analysts anticipate that the company will post sales of $14.22 billion, with estimates ranging from $13.83 billion to $14.79 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover United States Steel.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.17 by $0.30. United States Steel had a return on equity of 24.72% and a net margin of 7.92%. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year.

X has been the topic of several analyst reports. Zacks Investment Research lowered United States Steel from a “hold” rating to a “strong sell” rating in a report on Saturday, January 12th. Jefferies Financial Group lowered United States Steel from a “buy” rating to a “hold” rating and set a $21.15 price target on the stock. in a report on Tuesday, January 22nd. Berenberg Bank raised United States Steel from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, February 21st. Longbow Research downgraded United States Steel from a “buy” rating to a “neutral” rating and set a $21.40 price objective for the company. in a research report on Friday, January 18th. Finally, Morgan Stanley raised United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective for the company in a research report on Monday, January 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.61.

In other United States Steel news, CFO Kevin Bradley acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was purchased at an average cost of $22.79 per share, with a total value of $227,900.00. Following the transaction, the chief financial officer now owns 122,830 shares of the company’s stock, valued at $2,799,295.70. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mechanics Bank Trust Department grew its position in shares of United States Steel by 4.1% during the fourth quarter. Mechanics Bank Trust Department now owns 12,653 shares of the basic materials company’s stock worth $231,000 after buying an additional 500 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of United States Steel by 7.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 10,446 shares of the basic materials company’s stock worth $191,000 after buying an additional 724 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of United States Steel by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 229,840 shares of the basic materials company’s stock worth $4,192,000 after buying an additional 813 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of United States Steel by 1.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 70,736 shares of the basic materials company’s stock worth $1,290,000 after buying an additional 899 shares in the last quarter. Finally, Honeywell International Inc. grew its position in shares of United States Steel by 0.3% during the fourth quarter. Honeywell International Inc. now owns 299,400 shares of the basic materials company’s stock worth $5,461,000 after buying an additional 1,000 shares in the last quarter. 69.28% of the stock is owned by institutional investors.

Shares of NYSE X traded down $0.09 during trading on Tuesday, hitting $15.66. 11,505,065 shares of the company were exchanged, compared to its average volume of 13,252,452. United States Steel has a 12-month low of $14.16 and a 12-month high of $39.23. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $2.72 billion, a PE ratio of 2.92, a P/E/G ratio of 1.13 and a beta of 2.69.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is 3.73%.

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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