United States Steel Co. (NYSE:X) Expected to Announce Quarterly Sales of $2.73 Billion

Brokerages forecast that United States Steel Co. (NYSE:X) will report $2.73 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for United States Steel’s earnings. The lowest sales estimate is $2.59 billion and the highest is $2.88 billion. United States Steel posted sales of $3.69 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 26%. The business is expected to issue its next earnings results on Wednesday, January 29th.

According to Zacks, analysts expect that United States Steel will report full year sales of $12.85 billion for the current fiscal year, with estimates ranging from $12.71 billion to $12.99 billion. For the next financial year, analysts anticipate that the company will report sales of $11.92 billion, with estimates ranging from $11.15 billion to $12.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for United States Steel.

United States Steel (NYSE:X) last released its earnings results on Thursday, October 31st. The basic materials company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.08. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.04 billion. United States Steel had a return on equity of 10.57% and a net margin of 4.56%. During the same period in the previous year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year.

Several research firms have commented on X. ValuEngine upgraded United States Steel from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. Berenberg Bank downgraded United States Steel from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Deutsche Bank initiated coverage on United States Steel in a report on Thursday, December 5th. They issued a “buy” rating on the stock. Cfra downgraded United States Steel from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, BNP Paribas initiated coverage on United States Steel in a report on Thursday, November 14th. They issued a “sell” rating and a $10.50 price target on the stock. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. United States Steel presently has a consensus rating of “Hold” and a consensus price target of $14.01.

Shares of NYSE X traded up $0.09 during trading hours on Monday, reaching $10.62. The stock had a trading volume of 218,030 shares, compared to its average volume of 12,858,767. United States Steel has a 52-week low of $9.93 and a 52-week high of $24.74. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 1.98 and a beta of 3.03. The business’s fifty day moving average price is $12.29 and its two-hundred day moving average price is $12.52. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.64.

Institutional investors have recently modified their holdings of the stock. Stifel Financial Corp boosted its stake in shares of United States Steel by 254.9% during the 3rd quarter. Stifel Financial Corp now owns 184,857 shares of the basic materials company’s stock worth $2,132,000 after acquiring an additional 132,771 shares in the last quarter. Man Group plc purchased a new position in shares of United States Steel in the third quarter valued at approximately $874,000. Cetera Investment Advisers purchased a new position in shares of United States Steel in the third quarter valued at approximately $145,000. Cetera Advisors LLC lifted its stake in United States Steel by 84.5% in the third quarter. Cetera Advisors LLC now owns 105,835 shares of the basic materials company’s stock worth $1,226,000 after acquiring an additional 48,459 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in United States Steel by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,246,175 shares of the basic materials company’s stock worth $19,079,000 after acquiring an additional 69,839 shares during the last quarter. 70.45% of the stock is owned by hedge funds and other institutional investors.

United States Steel Company Profile

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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