United States Steel Co. (NYSE:X) - Research analysts at Jefferies Group dropped their Q3 2017 EPS estimates for shares of United States Steel in a research report issued on Wednesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings per share of $0.60 for the quarter, down from their prior forecast of $0.92. Jefferies Group has a “Buy” rating and a $33.00 price target on the stock. Jefferies Group also issued estimates for United States Steel’s Q4 2017 earnings at $0.80 EPS, FY2017 earnings at $1.64 EPS and FY2018 earnings at $2.49 EPS.
United States Steel (NYSE:X) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.66. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.98 billion. United States Steel had a return on equity of 44.29% and a net margin of 8.30%. United States Steel’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) EPS.
A number of other research firms have also recently issued reports on X. Longbow Research assumed coverage on United States Steel in a research note on Wednesday, April 12th. They issued a “neutral” rating for the company. Vetr cut United States Steel from a “strong-buy” rating to a “buy” rating and set a $38.38 target price for the company. in a research note on Tuesday, April 11th. Cowen and Company reissued an “outperform” rating and issued a $60.00 target price on shares of United States Steel in a research note on Monday, April 3rd. Bank of America Corporation cut United States Steel from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 26th. Finally, Macquarie raised United States Steel from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $23.00 to $30.00 in a research note on Monday, April 24th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.20.
Shares of United States Steel (NYSE X) opened at 22.98 on Friday. The company’s 50 day moving average price is $22.49 and its 200 day moving average price is $28.52. The firm’s market capitalization is $4.01 billion. United States Steel has a 52-week low of $15.72 and a 52-week high of $41.83. United States Steel also was the recipient of some unusual options trading on Wednesday. Traders purchased 51,977 put options on the company. This is an increase of 194% compared to the average daily volume of 17,668 put options.
A number of institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of United States Steel by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock worth $112,000 after buying an additional 3,155 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of United States Steel during the first quarter worth $209,000. Acrospire Investment Management LLC increased its position in shares of United States Steel by 241.1% in the first quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock worth $210,000 after buying an additional 4,391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United States Steel by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock worth $213,000 after buying an additional 1,112 shares during the period. Finally, FNY Partners Fund LP increased its position in shares of United States Steel by 272.2% in the first quarter. FNY Partners Fund LP now owns 6,700 shares of the basic materials company’s stock worth $226,000 after buying an additional 4,900 shares during the period. 67.18% of the stock is currently owned by hedge funds and other institutional investors.
In other United States Steel news, Director David Sutherland purchased 10,000 shares of the stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $19.96 per share, with a total value of $199,600.00. Following the completion of the transaction, the director now directly owns 98,919 shares in the company, valued at $1,974,423.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Anthony Mascarenas purchased 1,500 shares of the stock in a transaction on Thursday, May 18th. The shares were acquired at an average cost of $19.31 per share, for a total transaction of $28,965.00. Following the transaction, the director now owns 12,377 shares of the company’s stock, valued at $238,999.87. The disclosure for this purchase can be found here. Insiders have purchased 14,000 shares of company stock worth $278,415 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, August 7th. This represents a $0.20 annualized dividend and a yield of 0.87%. United States Steel’s payout ratio is presently 125.00%.
United States Steel 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).
Receive News & Ratings for United States Steel Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel Co. and related companies with MarketBeat.com's FREE daily email newsletter.
