United States Steel Co. (NYSE:X) – Stock analysts at Jefferies Group lowered their Q1 2018 earnings per share estimates for United States Steel in a research note issued to investors on Friday, April 6th. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $0.34 per share for the quarter, down from their previous forecast of $0.35.
X has been the topic of several other reports. Bank of America cut United States Steel from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Friday, March 2nd. JPMorgan Chase lifted their price objective on United States Steel from $48.00 to $69.00 in a report on Friday, March 9th. Argus reiterated a “buy” rating and issued a $52.00 price objective (up from $41.00) on shares of United States Steel in a report on Wednesday, February 21st. ValuEngine upgraded United States Steel from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Finally, Vertical Group cut United States Steel from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.11.
X stock opened at $34.49 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.11 and a current ratio of 1.75. United States Steel has a 12-month low of $18.55 and a 12-month high of $47.64. The stock has a market capitalization of $6,066.20, a P/E ratio of 17.78, a PEG ratio of 0.92 and a beta of 2.97.
United States Steel (NYSE:X) last posted its earnings results on Wednesday, January 31st. The basic materials company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. United States Steel had a return on equity of 12.56% and a net margin of 3.16%. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Banco de Sabadell S.A purchased a new stake in United States Steel in the fourth quarter valued at approximately $100,000. We Are One Seven LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $132,000. CoreCommodity Management LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $152,000. US Bancorp DE raised its position in United States Steel by 81.2% in the fourth quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 2,045 shares during the period. Finally, Calamos Advisors LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $201,000. 68.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Richard Fruehauf sold 1,594 shares of United States Steel stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $45.05, for a total transaction of $71,809.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas sold 3,531 shares of United States Steel stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $38.40, for a total transaction of $135,590.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,895 shares of company stock worth $4,742,234. Insiders own 1.01% of the company’s stock.
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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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