United States Steel Co. (NYSE:X) – Equities research analysts at Jefferies Financial Group lowered their FY2019 earnings per share estimates for United States Steel in a research note issued to investors on Tuesday, January 22nd, Zacks Investment Research reports. Jefferies Financial Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $2.66 per share for the year, down from their previous estimate of $3.93. Jefferies Financial Group currently has a “Hold” rating and a $21.15 target price on the stock. Jefferies Financial Group also issued estimates for United States Steel’s FY2020 earnings at $3.10 EPS.
United States Steel (NYSE:X) last posted its earnings results on Wednesday, January 30th. The basic materials company reported $1.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.83 by ($0.01). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a net margin of 7.86% and a return on equity of 25.39%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS.
Several other research analysts have also commented on X. ValuEngine lowered United States Steel from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. BMO Capital Markets cut their price objective on United States Steel from $36.00 to $33.00 and set a “market perform” rating for the company in a report on Monday, November 5th. They noted that the move was a valuation call. Citigroup cut their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. TD Securities reissued an “average” rating on shares of United States Steel in a report on Monday, November 12th. Finally, Longbow Research cut their price objective on United States Steel from $49.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, November 27th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. United States Steel has a consensus rating of “Hold” and an average target price of $32.89.
Shares of NYSE X traded up $0.27 during midday trading on Thursday, hitting $22.92. 8,087,223 shares of the company’s stock were exchanged, compared to its average volume of 10,589,963. United States Steel has a 12-month low of $17.08 and a 12-month high of $47.64. The company has a current ratio of 1.51, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 4.28, a PEG ratio of 1.04 and a beta of 2.78.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Wednesday, February 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. United States Steel’s payout ratio is 3.73%.
United States Steel declared that its board has authorized a share buyback plan on Thursday, November 1st that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the basic materials company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In related news, CFO Kevin Bradley purchased 10,000 shares of United States Steel stock in a transaction dated Thursday, December 13th. The stock was bought at an average cost of $20.33 per share, for a total transaction of $203,300.00. Following the transaction, the chief financial officer now owns 112,830 shares in the company, valued at $2,293,833.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James E. Bruno sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $25.75, for a total transaction of $309,000.00. Following the completion of the transaction, the vice president now owns 54,137 shares in the company, valued at approximately $1,394,027.75. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. We Are One Seven LLC bought a new position in United States Steel during the 4th quarter valued at about $25,000. Quantamental Technologies LLC acquired a new position in shares of United States Steel in the fourth quarter valued at about $33,000. Rational Advisors LLC lifted its holdings in shares of United States Steel by 999.7% in the fourth quarter. Rational Advisors LLC now owns 3,453 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 3,139 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in United States Steel by 1,747.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,290,225 shares of the basic materials company’s stock valued at $71,000 after buying an additional 1,220,388 shares during the last quarter. Finally, Destination Wealth Management acquired a new stake in United States Steel during the 4th quarter valued at approximately $84,000. Institutional investors and hedge funds own 65.11% of the company’s stock.
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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