United States Steel Co. (NYSE:X) to Post Q3 2019 Earnings of ($0.20) Per Share, Jefferies Financial Group Forecasts

United States Steel Co. (NYSE:X) – Equities researchers at Jefferies Financial Group issued their Q3 2019 earnings estimates for shares of United States Steel in a research report issued on Wednesday, October 16th. Jefferies Financial Group analyst M. Englert forecasts that the basic materials company will post earnings of ($0.20) per share for the quarter. Jefferies Financial Group also issued estimates for United States Steel’s Q4 2019 earnings at ($0.59) EPS, FY2019 earnings at $0.14 EPS, FY2020 earnings at ($0.99) EPS, FY2021 earnings at $0.71 EPS, FY2022 earnings at $0.82 EPS and FY2023 earnings at $3.49 EPS.

X has been the topic of a number of other research reports. JPMorgan Chase & Co. downgraded United States Steel from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $14.00 in a research report on Monday, September 23rd. Macquarie downgraded United States Steel from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $18.00 to $9.00 in a research report on Thursday, September 19th. Royal Bank of Canada downgraded United States Steel from an “outperform” rating to a “sector perform” rating in a research report on Monday. Credit Suisse Group lowered their price target on United States Steel from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Thursday, September 19th. Finally, Barclays assumed coverage on United States Steel in a research report on Friday, September 6th. They set an “overweight” rating on the stock. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. United States Steel currently has an average rating of “Hold” and an average price target of $16.55.

Shares of X stock opened at $11.22 on Monday. The company has a market capitalization of $1.83 billion, a P/E ratio of 2.09 and a beta of 3.04. The business’s 50 day moving average is $11.36 and its two-hundred day moving average is $13.62. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. United States Steel has a 12-month low of $9.93 and a 12-month high of $29.84.

United States Steel (NYSE:X) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.43 billion. United States Steel had a return on equity of 19.27% and a net margin of 6.95%. United States Steel’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of United States Steel by 0.6% in the second quarter. Arizona State Retirement System now owns 125,118 shares of the basic materials company’s stock valued at $1,916,000 after acquiring an additional 734 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of United States Steel by 2.5% in the second quarter. Crossmark Global Holdings Inc. now owns 31,940 shares of the basic materials company’s stock valued at $489,000 after acquiring an additional 779 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in shares of United States Steel by 5.1% in the second quarter. First Allied Advisory Services Inc. now owns 18,051 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 880 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its position in shares of United States Steel by 7.1% in the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 15,045 shares of the basic materials company’s stock valued at $230,000 after acquiring an additional 1,000 shares in the last quarter. Finally, World Asset Management Inc lifted its position in shares of United States Steel by 9.1% in the second quarter. World Asset Management Inc now owns 12,889 shares of the basic materials company’s stock valued at $197,000 after acquiring an additional 1,071 shares in the last quarter. Institutional investors and hedge funds own 60.80% of the company’s stock.

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: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

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

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