United States Steel Co. (X) Expected to Post Quarterly Sales of $3.07 Billion

Analysts expect that United States Steel Co. (NYSE:X) will announce sales of $3.07 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for United States Steel’s earnings, with estimates ranging from $3.03 billion to $3.09 billion. United States Steel posted sales of $2.65 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 15.8%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, January 31st.

On average, analysts expect that United States Steel will report full-year sales of $3.07 billion for the current fiscal year, with estimates ranging from $12.01 billion to $12.22 billion. For the next financial year, analysts forecast that the company will report sales of $12.48 billion per share, with estimates ranging from $12.22 billion to $12.73 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow United States Steel.

United States Steel (NYSE:X) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. United States Steel had a net margin of 4.53% and a return on equity of 22.00%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis.

X has been the topic of a number of recent analyst reports. Citigroup lifted their price target on shares of United States Steel from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Friday, September 15th. Jefferies Group reissued a “buy” rating on shares of United States Steel in a research report on Monday, September 18th. Cowen cut shares of United States Steel from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $24.00 to $20.00 in a research report on Friday, September 22nd. Longbow Research restated a “neutral” rating on shares of United States Steel in a report on Tuesday, October 3rd. Finally, Bank of America set a $32.00 price objective on shares of United States Steel and gave the stock a “buy” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.14.

Shares of United States Steel (X) traded down $1.01 during midday trading on Wednesday, hitting $38.41. 11,218,900 shares of the stock were exchanged, compared to its average volume of 11,501,250. The company has a market capitalization of $6,840.00, a PE ratio of 56.49 and a beta of 3.00. United States Steel has a 52 week low of $18.55 and a 52 week high of $41.83. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03.

In related news, insider Richard Fruehauf sold 5,959 shares of United States Steel stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $30.00, for a total transaction of $178,770.00. Following the completion of the sale, the insider now owns 7,960 shares of the company’s stock, valued at approximately $238,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David J. Rintoul sold 17,640 shares of United States Steel stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $36.57, for a total transaction of $645,094.80. Following the sale, the senior vice president now directly owns 63,449 shares of the company’s stock, valued at approximately $2,320,329.93. The disclosure for this sale can be found here. In the last three months, insiders sold 75,698 shares of company stock valued at $2,535,286. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Enterprise Financial Services Corp bought a new stake in United States Steel in the 3rd quarter valued at about $120,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United States Steel by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 674 shares during the period. NJ State Employees Deferred Compensation Plan bought a new stake in United States Steel in the 3rd quarter valued at about $205,000. ARP Americas LLC bought a new stake in United States Steel in the 3rd quarter valued at about $223,000. Finally, Advisors Asset Management Inc. boosted its holdings in United States Steel by 32.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,813 shares of the basic materials company’s stock valued at $226,000 after purchasing an additional 2,148 shares during the period. 64.22% of the stock is owned by institutional investors and hedge funds.

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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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