United States Steel Corporation (NYSE:X) - Equities researchers at Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for shares of United States Steel Corporation in a report issued on Wednesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will earn $0.92 per share for the quarter, up from their prior forecast of $0.88. Jefferies Group currently has a “Buy” rating and a $33.00 price objective on the stock.
United States Steel Corporation (NYSE:X) last announced its quarterly earnings data on Tuesday, April 25th. The basic materials company reported ($0.83) EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $1.18. United States Steel Corporation had a negative return on equity of 3.48% and a negative net margin of 2.63%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the business posted ($2.15) EPS. United States Steel Corporation’s revenue was up 16.4% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Brokers Set Expectations for United States Steel Corporation’s Q3 2017 Earnings (X)” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://stocknewstimes.com/2017/07/31/brokers-set-expectations-for-united-states-steel-corporations-q3-2017-earnings-x-updated.html.
Several other equities analysts also recently commented on X. Axiom Securities reaffirmed a “sell” rating on shares of United States Steel Corporation in a research report on Thursday, July 13th. Longbow Research reiterated a “buy” rating and issued a $30.00 price target on shares of United States Steel Corporation in a research note on Thursday, July 13th. BidaskClub upgraded United States Steel Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets set a $24.00 price target on United States Steel Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th. Finally, Deutsche Bank AG upgraded United States Steel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, June 23rd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. United States Steel Corporation presently has an average rating of “Hold” and an average price target of $28.87.
Shares of United States Steel Corporation (X) opened at 24.15 on Thursday. United States Steel Corporation has a 12 month low of $15.72 and a 12 month high of $41.83. The company’s market cap is $4.22 billion. The firm has a 50 day moving average price of $21.88 and a 200-day moving average price of $28.95.
In other news, Director David Sutherland purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was bought at an average cost of $19.96 per share, for a total transaction of $199,600.00. Following the purchase, the director now owns 98,919 shares of the company’s stock, valued at $1,974,423.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Anthony Mascarenas purchased 1,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was purchased at an average price of $19.31 per share, with a total value of $28,965.00. Following the completion of the purchase, the director now directly owns 12,377 shares in the company, valued at approximately $238,999.87. The disclosure for this purchase can be found here. Insiders bought a total of 14,000 shares of company stock valued at $278,415 over the last quarter. 1.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in United States Steel Corporation by 12,021.7% in the first quarter. BlackRock Inc. now owns 14,279,755 shares of the basic materials company’s stock worth $482,799,000 after buying an additional 14,161,952 shares during the last quarter. Vanguard Group Inc. increased its stake in United States Steel Corporation by 10.1% in the first quarter. Vanguard Group Inc. now owns 16,743,496 shares of the basic materials company’s stock worth $566,096,000 after buying an additional 1,539,412 shares during the last quarter. Norges Bank bought a new stake in United States Steel Corporation during the fourth quarter worth $40,853,000. Teachers Advisors LLC increased its stake in United States Steel Corporation by 80.3% in the fourth quarter. Teachers Advisors LLC now owns 1,674,060 shares of the basic materials company’s stock worth $55,261,000 after buying an additional 745,669 shares during the last quarter. Finally, Morgan Stanley increased its stake in United States Steel Corporation by 19.9% in the first quarter. Morgan Stanley now owns 3,090,213 shares of the basic materials company’s stock worth $104,480,000 after buying an additional 512,075 shares during the last quarter. Institutional investors own 66.83% of the company’s stock.
About United States Steel Corporation
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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