$3.70 Billion in Sales Expected for United States Steel Co. (X) This Quarter
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.
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.
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