United States Steel (NYSE:X) Announces Earnings Results

United States Steel (NYSE:X) announced its quarterly earnings results on Thursday. The basic materials company reported ($2.67) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.74) by $0.07, MarketWatch Earnings reports. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.69 billion. United States Steel had a negative return on equity of 18.37% and a negative net margin of 16.25%.

X stock opened at $6.66 on Friday. The business has a 50-day moving average of $7.83 and a 200-day moving average of $7.88. United States Steel has a fifty-two week low of $4.54 and a fifty-two week high of $15.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.69 and a quick ratio of 0.94. The stock has a market capitalization of $1.13 billion, a P/E ratio of -0.66 and a beta of 2.57.

Several brokerages have recently issued reports on X. UBS Group reduced their price target on United States Steel from $7.00 to $4.00 and set a “sell” rating for the company in a report on Thursday, May 14th. ValuEngine raised United States Steel from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price target on United States Steel from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. KeyCorp reaffirmed a “hold” rating on shares of United States Steel in a research note on Thursday, June 18th. Finally, raised United States Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.40.

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.

Further Reading: Derivative

Earnings History for United States Steel (NYSE:X)

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