KeyCorp Analysts Increase Earnings Estimates for United States Steel Co. (X)

United States Steel Co. (NYSE:X) – Investment analysts at KeyCorp boosted their FY2017 earnings per share estimates for United States Steel in a research note issued on Tuesday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $1.79 per share for the year, up from their previous estimate of $1.77. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for United States Steel’s Q4 2017 earnings at $0.62 EPS and FY2018 earnings at $2.05 EPS.

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

X has been the subject of a number of other research reports. Standpoint Research cut United States Steel from a “buy” rating to a “reduce” rating in a research report on Tuesday, September 5th. BMO Capital Markets boosted their price target on United States Steel from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. Cowen raised United States Steel from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $20.00 to $28.00 in a research report on Thursday, November 2nd. BidaskClub raised United States Steel from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of United States Steel in a research report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. United States Steel presently has a consensus rating of “Hold” and an average price target of $29.34.

Shares of United States Steel (X) opened at $33.23 on Friday. United States Steel has a 12-month low of $18.55 and a 12-month high of $41.83. The firm has a market capitalization of $5,444.08, a PE ratio of 21.75 and a beta of 3.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.89 and a quick ratio of 1.23.

A number of institutional investors and hedge funds have recently modified their holdings of X. Enterprise Financial Services Corp acquired a new stake in United States Steel during the third quarter valued at approximately $120,000. Global X Management Co. LLC boosted its holdings in United States Steel by 221.0% during the second quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 3,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United States Steel by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 674 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in United States Steel during the third quarter valued at approximately $205,000. Finally, Sigma Planning Corp boosted its holdings in United States Steel by 21.3% during the second quarter. Sigma Planning Corp now owns 9,662 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 1,696 shares in the last quarter. Hedge funds and other institutional investors own 64.27% of the company’s stock.

In related news, VP Colleen M. Darragh sold 9,700 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $291,000.00. Following the transaction, the vice president now directly owns 19,136 shares in the company, valued at $574,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David J. Rintoul sold 7,090 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $32.00, for a total value of $226,880.00. Following the transaction, the senior vice president now owns 62,899 shares in the company, valued at $2,012,768. The disclosure for this sale can be found here. Insiders sold 26,355 shares of company stock worth $804,830 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were paid a $0.05 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%. United States Steel’s payout ratio is presently 29.85%.

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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).

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

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