Jefferies Group Comments on United States Steel Corporation’s Q3 2017 Earnings (X)

United States Steel Corporation (NYSE:X) – Jefferies Group decreased their Q3 2017 earnings per share (EPS) estimates for shares of United States Steel Corporation in a report released on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.60. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for United States Steel Corporation’s FY2018 earnings at $2.76 EPS.

United States Steel Corporation (NYSE:X) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.66. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm posted ($0.32) earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year.

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A number of other research firms also recently issued reports on X. Macquarie began coverage on shares of United States Steel Corporation in a report on Wednesday, September 6th. They set an “outperform” rating and a $31.00 price objective on the stock. Standpoint Research downgraded shares of United States Steel Corporation from a “buy” rating to a “reduce” rating in a report on Tuesday, September 5th. Bank of America Corporation raised shares of United States Steel Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $29.00 to $31.00 in a report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of United States Steel Corporation in a report on Friday, September 8th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $24.00 price objective on shares of United States Steel Corporation in a report on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. United States Steel Corporation currently has an average rating of “Hold” and an average price target of $28.29.

Shares of United States Steel Corporation (NYSE:X) opened at 27.68 on Thursday. United States Steel Corporation has a 52-week low of $16.50 and a 52-week high of $41.83. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 175.19 and a beta of 2.89. The firm’s 50-day moving average is $26.05 and its 200 day moving average is $24.31.

In other news, Director Eugene Sperling acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $25.16 per share, for a total transaction of $25,160.00. Following the purchase, the director now owns 3,009 shares of the company’s stock, valued at approximately $75,706.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Bradley acquired 36,762 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average price of $27.23 per share, for a total transaction of $1,001,029.26. Following the completion of the purchase, the chief financial officer now directly owns 30,415 shares in the company, valued at approximately $828,200.45. The disclosure for this purchase can be found here. Insiders purchased a total of 64,597 shares of company stock worth $1,764,452 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. increased its position in shares of United States Steel Corporation by 3.2% during the second quarter. Advisor Group Inc. now owns 9,834 shares of the basic materials company’s stock valued at $218,000 after buying an additional 308 shares during the period. Capstone Asset Management Co. increased its position in shares of United States Steel Corporation by 3.6% during the second quarter. Capstone Asset Management Co. now owns 15,371 shares of the basic materials company’s stock valued at $340,000 after buying an additional 540 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of United States Steel Corporation by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 32,591 shares of the basic materials company’s stock valued at $722,000 after buying an additional 606 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United States Steel Corporation by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after buying an additional 674 shares during the period. Finally, Amalgamated Bank increased its position in shares of United States Steel Corporation by 3.0% during the first quarter. Amalgamated Bank now owns 24,674 shares of the basic materials company’s stock valued at $834,000 after buying an additional 729 shares during the period. Hedge funds and other institutional investors own 63.98% of the company’s stock.

United States Steel Corporation 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).

Earnings History and Estimates for United States Steel Corporation (NYSE:X)

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