United States Steel (NYSE:X) Updates Q3 Earnings Guidance

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United States Steel (NYSE:X) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.35) for the period, compared to the Thomson Reuters consensus EPS estimate of $0.01.

A number of analysts have weighed in on X shares. Credit Suisse Group decreased their target price on shares of United States Steel from $9.00 to $8.00 and set an underperform rating on the stock in a research note on Thursday, September 19th. JPMorgan Chase & Co. cut shares of United States Steel from an overweight rating to a neutral rating and decreased their target price for the stock from $26.00 to $14.00 in a research note on Monday, September 23rd. Macquarie cut shares of United States Steel from an outperform rating to an underperform rating and decreased their target price for the stock from $18.00 to $9.00 in a research note on Thursday, September 19th. ValuEngine raised shares of United States Steel from a hold rating to a buy rating in a research note on Monday, October 7th. Finally, Vertical Group upgraded shares of United States Steel from a sell rating to a buy rating in a report on Wednesday, June 19th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $16.55.

Shares of NYSE X traded up $1.20 during mid-day trading on Friday, reaching $11.34. The company had a trading volume of 32,901,758 shares, compared to its average volume of 16,675,717. The business’s 50-day moving average is $11.39 and its 200-day moving average is $14.09. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 2.12, a price-to-earnings-growth ratio of 13.28 and a beta of 3.04. United States Steel has a 52 week low of $9.93 and a 52 week high of $29.84.

United States Steel (NYSE:X) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts forecast that United States Steel will post -0.1 earnings per share for the current year.

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: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

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

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