United States Steel Corporation (X) Releases FY17 Earnings Guidance
United States Steel Corporation (NYSE:X) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of ~$1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.63.
Shares of United States Steel Corporation (NYSE X) traded down 4.31% during mid-day trading on Tuesday, reaching $25.32. The company had a trading volume of 24,751,591 shares. The stock has a market capitalization of $4.43 billion, a P/E ratio of 160.25 and a beta of 2.89. The firm’s 50 day moving average is $26.16 and its 200-day moving average is $23.94. United States Steel Corporation has a 12-month low of $17.05 and a 12-month high of $41.83.
United States Steel Corporation (NYSE:X) last announced its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.18. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.07 billion. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, analysts expect that United States Steel Corporation will post $1.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. United States Steel Corporation’s dividend payout ratio (DPR) is currently 125.00%.
A number of research firms have commented on X. Citigroup Inc. downgraded shares of United States Steel Corporation from a neutral rating to a sell rating and cut their target price for the stock from $26.00 to $20.00 in a research report on Friday, July 28th. Axiom Securities reaffirmed a sell rating on shares of United States Steel Corporation in a research report on Thursday, July 13th. Standpoint Research downgraded shares of United States Steel Corporation from a buy rating to a reduce rating in a research report on Tuesday, September 5th. Macquarie began coverage on shares of United States Steel Corporation in a research report on Wednesday, September 6th. They issued an outperform rating and a $31.00 target price for the company. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and issued a $51.00 target price on shares of United States Steel Corporation in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $28.34.
In related news, Director Eugene Sperling purchased 1,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were acquired at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the purchase, the director now directly owns 3,009 shares in the company, valued at $75,706.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Murry Gerber purchased 4,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was bought at an average price of $26.89 per share, for a total transaction of $107,560.00. Following the purchase, the director now owns 168,457 shares in the company, valued at $4,529,808.73. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 64,597 shares of company stock worth $1,764,452. Corporate insiders own 1.00% of the company’s stock.
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About United States Steel Corporation
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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