United States Steel Co. (NYSE:X) – Investment analysts at Seaport Global Securities raised their Q2 2019 earnings per share (EPS) estimates for shares of United States Steel in a research report issued to clients and investors on Monday, November 5th. Seaport Global Securities analyst D. Hernandez now anticipates that the basic materials company will post earnings per share of $1.70 for the quarter, up from their previous estimate of $1.66. Seaport Global Securities currently has a “Buy” rating and a $35.00 price target on the stock. Seaport Global Securities also issued estimates for United States Steel’s Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.93 EPS, FY2019 earnings at $5.28 EPS and FY2020 earnings at $4.89 EPS.
Several other research firms have also recently commented on X. ValuEngine cut United States Steel from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Deutsche Bank cut United States Steel from a “buy” rating to a “hold” rating and cut their price target for the company from $47.00 to $35.00 in a report on Tuesday, October 2nd. Morgan Stanley cut United States Steel from an “overweight” rating to an “underweight” rating and cut their price target for the company from $44.00 to $30.00 in a report on Monday, August 27th. TheStreet raised United States Steel from a “c” rating to a “b” rating in a report on Thursday, August 2nd. Finally, Credit Suisse Group cut their price target on United States Steel from $55.00 to $48.00 in a report on Thursday, August 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $39.72.
NYSE X opened at $29.06 on Wednesday. United States Steel has a twelve month low of $24.84 and a twelve month high of $47.64. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.96 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.60 and a beta of 2.92.
United States Steel (NYSE:X) last posted its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.06. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. United States Steel’s payout ratio is presently 10.31%.
United States Steel announced that its board has approved a share buyback program on Thursday, November 1st that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several institutional investors and hedge funds have recently modified their holdings of X. Advisors Preferred LLC grew its position in United States Steel by 131.7% during the 2nd quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 1,747 shares during the last quarter. Exane Derivatives grew its position in United States Steel by 364,000.0% during the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 3,640 shares during the last quarter. Truvestments Capital LLC bought a new stake in United States Steel during the 3rd quarter worth approximately $143,000. NuWave Investment Management LLC bought a new stake in United States Steel during the 2nd quarter worth approximately $189,000. Finally, Syntal Capital Partners LLC bought a new stake in United States Steel during the 2nd quarter worth approximately $208,000. 68.30% of the stock is owned by institutional investors and hedge funds.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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