United States Steel Co. (NYSE:X) – Investment analysts at Jefferies Financial Group lowered their Q2 2019 earnings estimates for shares of United States Steel in a research note issued on Wednesday, July 17th. Jefferies Financial Group analyst M. Englert now anticipates that the basic materials company will post earnings of $0.40 per share for the quarter, down from their prior estimate of $0.41. Jefferies Financial Group also issued estimates for United States Steel’s Q3 2019 earnings at $0.08 EPS and FY2019 earnings at $1.08 EPS.
X has been the subject of a number of other reports. Credit Suisse Group set a $170.00 price objective on shares of Accenture and gave the company a “hold” rating in a research note on Tuesday, April 9th. UBS Group set a $70.00 price target on shares of Lumentum and gave the company a “buy” rating in a research report on Wednesday, May 8th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Goldman Sachs Group upgraded shares of to a “buy” rating and set a GBX 1,180 ($15.42) price target on the stock in a research report on Tuesday, June 4th. Finally, Zacks Investment Research upgraded shares of IQE from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.94.
United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.30. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.37 billion. United States Steel had a net margin of 7.92% and a return on equity of 24.72%. United States Steel’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. increased its position in United States Steel by 2.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 31,940 shares of the basic materials company’s stock valued at $489,000 after purchasing an additional 779 shares during the period. American International Group Inc. lifted its stake in United States Steel by 0.3% during the 4th quarter. American International Group Inc. now owns 361,308 shares of the basic materials company’s stock valued at $6,590,000 after acquiring an additional 1,067 shares during the period. United Services Automobile Association lifted its stake in United States Steel by 3.8% during the 4th quarter. United Services Automobile Association now owns 31,068 shares of the basic materials company’s stock valued at $567,000 after acquiring an additional 1,139 shares during the period. Texas Permanent School Fund lifted its stake in shares of United States Steel by 1.4% in the 1st quarter. Texas Permanent School Fund now owns 117,616 shares of the basic materials company’s stock valued at $2,292,000 after purchasing an additional 1,613 shares during the period. Finally, NEXT Financial Group Inc lifted its stake in shares of United States Steel by 139.8% in the 2nd quarter. NEXT Financial Group Inc now owns 3,153 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 1,838 shares during the period. Institutional investors own 62.66% of the company’s stock.
United States Steel Company Profile
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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