Wall Street brokerages predict that United States Steel Co. (NYSE:X) will post sales of $3.70 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for United States Steel’s earnings, with the highest sales estimate coming in at $3.81 billion and the lowest estimate coming in at $3.55 billion. United States Steel posted sales of $3.25 billion during the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that United States Steel will report full-year sales of $14.31 billion for the current year, with estimates ranging from $14.09 billion to $14.67 billion. For the next year, analysts expect that the firm will report sales of $15.04 billion, with estimates ranging from $14.13 billion to $15.81 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover United States Steel.

United States Steel (NYSE:X) last posted its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.33. United States Steel had a net margin of 4.09% and a return on equity of 18.70%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis.

X has been the topic of several recent research reports. Morgan Stanley downgraded shares of United States Steel from an “overweight” rating to an “underweight” rating and cut their price objective for the company from $44.00 to $30.00 in a research report on Monday, August 27th. Zacks Investment Research downgraded shares of United States Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, May 30th. ValuEngine downgraded shares of United States Steel from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Credit Suisse Group cut their price objective on shares of United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. Finally, TheStreet upgraded shares of United States Steel from a “c” rating to a “b” rating in a research report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. United States Steel presently has an average rating of “Hold” and a consensus price target of $42.02.

Shares of United States Steel stock traded up $0.16 during trading hours on Monday, reaching $29.96. The company’s stock had a trading volume of 146,848 shares, compared to its average volume of 6,155,812. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.66. United States Steel has a one year low of $24.45 and a one year high of $47.64. The company has a market cap of $5.35 billion, a P/E ratio of 15.20, a PEG ratio of 0.65 and a beta of 3.14.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Thursday, August 9th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. United States Steel’s dividend payout ratio is currently 10.31%.

Several institutional investors and hedge funds have recently made changes to their positions in X. Advisors Preferred LLC increased its position in shares of United States Steel by 131.7% in the second 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 in the last quarter. NuWave Investment Management LLC purchased a new position in shares of United States Steel in the second quarter worth approximately $189,000. Syntal Capital Partners LLC purchased a new position in shares of United States Steel in the second quarter worth approximately $208,000. IFP Advisors Inc increased its position in shares of United States Steel by 65.9% in the first quarter. IFP Advisors Inc now owns 6,051 shares of the basic materials company’s stock worth $213,000 after acquiring an additional 2,403 shares in the last quarter. Finally, Hartford Investment Management Co. purchased a new position in shares of United States Steel in the second quarter worth approximately $212,000. 68.03% of the stock is currently owned by institutional investors.

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.

Featured Story: Buyback For Investors Defined

Get a free copy of the Zacks research report on United States Steel (X)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.