United States Steel Corporation (X) to Post FY2017 Earnings of $1.77 Per Share, KeyCorp Forecasts

United States Steel Corporation (NYSE:X) – Stock analysts at KeyCorp raised their FY2017 EPS estimates for shares of United States Steel Corporation in a research note issued to investors on Monday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $1.77 per share for the year, up from their prior estimate of $1.75. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for United States Steel Corporation’s Q4 2017 earnings at $0.60 EPS.



A number of other brokerages also recently commented on X. Longbow Research downgraded United States Steel Corporation from a “buy” rating to a “neutral” rating in a research report on Thursday, July 27th. Argus lifted their price objective on United States Steel Corporation to $1.48 and gave the company a “buy” rating in a research report on Friday, July 28th. Cowen and Company lifted their price objective on United States Steel Corporation from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. Macquarie assumed coverage on United States Steel Corporation in a research report on Wednesday, September 6th. They issued an “outperform” rating and a $31.00 price objective for the company. Finally, Bank of America Corporation upgraded United States Steel Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $29.00 to $31.00 in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.34.

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Shares of United States Steel Corporation (NYSE:X) opened at $28.51 on Wednesday. The company has a market capitalization of $4,990.00, a price-to-earnings ratio of 19.48 and a beta of 2.96. 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 Corporation has a 1 year low of $18.55 and a 1 year high of $41.83.

United States Steel Corporation (NYSE:X) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.07 billion. United States Steel Corporation had a return on equity of 10.27% and a net margin of 1.05%. United States Steel Corporation’s revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of X. Amerigo Asset Management acquired a new position in shares of United States Steel Corporation during the third quarter worth approximately $158,558,000. State of New Jersey Common Pension Fund D acquired a new position in shares of United States Steel Corporation during the second quarter worth approximately $37,749,000. Hodges Capital Management Inc. boosted its position in shares of United States Steel Corporation by 160.2% during the second quarter. Hodges Capital Management Inc. now owns 1,588,774 shares of the basic materials company’s stock worth $35,175,000 after buying an additional 978,199 shares during the period. Jennison Associates LLC acquired a new position in shares of United States Steel Corporation during the second quarter worth approximately $20,786,000. Finally, Ameriprise Financial Inc. boosted its position in shares of United States Steel Corporation by 173.8% during the second quarter. Ameriprise Financial Inc. now owns 1,463,410 shares of the basic materials company’s stock worth $32,399,000 after buying an additional 928,898 shares during the period. Institutional investors and hedge funds own 64.73% of the company’s stock.

In related news, Director Eugene Sperling bought 1,000 shares of the stock in a transaction dated Friday, September 15th. The stock was bought at an average cost of $25.16 per share, with a total value of $25,160.00. Following the completion of the acquisition, the director now owns 3,009 shares of the company’s stock, valued at $75,706.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Bradley bought 36,762 shares of the stock in a transaction dated Friday, September 8th. The shares were bought at an average cost of $27.23 per share, with a total value of $1,001,029.26. Following the completion of the acquisition, the chief financial officer now directly owns 30,415 shares of the company’s stock, valued at approximately $828,200.45. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 64,597 shares of company stock valued at $1,764,452. 1.00% of the stock is owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, November 9th. United States Steel Corporation’s dividend payout ratio is currently 29.41%.

About United States Steel Corporation

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).

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

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