FY2017 Earnings Forecast for United States Steel Co. Issued By Jefferies Group (X)
United States Steel Co. (NYSE:X) – Stock analysts at Jefferies Group dropped their FY2017 earnings per share estimates for United States Steel in a research note issued on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of $1.87 per share for the year, down from their prior estimate of $1.88. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for United States Steel’s FY2018 earnings at $2.87 EPS.
X has been the topic of several other reports. Cowen reissued a “hold” rating and set a $40.00 target price on shares of United States Steel in a research note on Thursday, January 4th. Axiom Securities raised shares of United States Steel from a “sell” rating to a “hold” rating and cut their target price for the company from $41.83 to $18.55 in a research note on Monday, December 11th. KeyCorp reissued a “hold” rating on shares of United States Steel in a research note on Friday, November 17th. Bank of America set a $32.00 target price on shares of United States Steel and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Longbow Research raised shares of United States Steel from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $31.14.
United States Steel (NYSE:X) opened at $39.52 on Thursday. The stock has a market capitalization of $6,920.00, a price-to-earnings ratio of 58.12 and a beta of 3.00. United States Steel has a twelve month low of $18.55 and a twelve month high of $41.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.89 and a quick ratio of 1.23.
United States Steel (NYSE:X) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.07 billion. United States Steel had a return on equity of 22.00% and a net margin of 4.53%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share.
In other news, SVP Sara A. Greenstein sold 3,606 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $30.00, for a total transaction of $108,180.00. Following the transaction, the senior vice president now directly owns 51,744 shares in the company, valued at approximately $1,552,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Colleen M. Darragh sold 1,060 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $37.85, for a total transaction of $40,121.00. Following the transaction, the vice president now owns 18,076 shares in the company, valued at $684,176.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,698 shares of company stock worth $2,535,286. 1.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Enterprise Financial Services Corp purchased a new position in shares of United States Steel during the 3rd quarter valued at $120,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of United States Steel by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 674 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in shares of United States Steel during the 3rd quarter valued at $205,000. Advisor Group Inc. grew its holdings in shares of United States Steel by 3.2% during the 2nd quarter. Advisor Group Inc. now owns 9,834 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 308 shares in the last quarter. Finally, Manatuck Hill Partners LLC purchased a new position in shares of United States Steel during the 2nd quarter valued at $221,000. Institutional investors and hedge funds own 64.22% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “FY2017 Earnings Forecast for United States Steel Co. Issued By Jefferies Group (X)” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.watchlistnews.com/fy2017-earnings-forecast-for-united-states-steel-co-issued-by-jefferies-group-x/1803625.html.
About United States Steel
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 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.