United States Steel Co. (NYSE:X) – Equities research analysts at Jefferies Group cut their FY2017 EPS estimates for shares of United States Steel in a report released on Tuesday, according to Zacks Investment Research. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $1.87 per share for the year, down from their previous estimate of $1.88. Jefferies Group also issued estimates for United States Steel’s FY2018 earnings at $2.87 EPS.
A number of other brokerages also recently commented on X. BMO Capital Markets boosted their price objective on shares of United States Steel from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, November 2nd. ValuEngine raised shares of United States Steel from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Cowen raised shares of United States Steel from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $20.00 to $28.00 in a research report on Thursday, November 2nd. Longbow Research raised shares of United States Steel from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, Bank of America set a $46.00 price objective on shares of United States Steel and gave the company a “buy” rating in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. United States Steel has an average rating of “Hold” and a consensus target price of $32.02.
United States Steel (NYSE:X) traded down $2.03 during mid-day trading on Thursday, hitting $34.58. 13,531,042 shares of the stock were exchanged, compared to its average volume of 10,630,000. United States Steel has a twelve month low of $18.55 and a twelve month high of $41.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.23. The firm has a market capitalization of $6,050.00, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.32 and a beta of 3.08.
United States Steel (NYSE:X) last released its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in shares of United States Steel by 81.2% during the 4th quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock worth $160,000 after buying an additional 2,045 shares during the period. Enterprise Financial Services Corp bought a new stake in shares of United States Steel during the 3rd quarter worth $120,000. CIBC Asset Management Inc bought a new stake in shares of United States Steel during the 4th quarter worth $209,000. Koshinski Asset Management Inc. bought a new stake in shares of United States Steel during the 4th quarter worth $218,000. Finally, Cigna Investments Inc. New bought a new stake in shares of United States Steel during the 4th quarter worth $220,000. 64.21% of the stock is owned by institutional investors and hedge funds.
In related news, CEO David B. Burritt sold 36,072 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $39.95, for a total transaction of $1,441,076.40. Following the completion of the sale, the chief executive officer now directly owns 166,411 shares of the company’s stock, valued at approximately $6,648,119.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard Fruehauf sold 5,959 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $178,770.00. Following the sale, the insider now directly owns 7,960 shares of the company’s stock, valued at $238,800. The disclosure for this sale can be found here. Insiders sold 128,706 shares of company stock valued at $4,653,456 over the last three months. Insiders own 1.00% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, February 8th. United States Steel’s dividend payout ratio is 9.17%.
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About United States Steel
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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