X - United States Steel Corporation
10.71 -0.01 (-0.09%)
After hours: 6:35PM EDT
| Previous Close | 10.63 |
| Open | 10.59 |
| Bid | 10.69 x 3100 |
| Ask | 10.72 x 4000 |
| Day's Range | 10.53 - 10.88 |
| 52 Week Range | 9.93 - 29.84 |
| Volume | 12,907,133 |
| Avg. Volume | 14,447,266 |
| Market Cap | 1.83B |
| Beta (3Y Monthly) | 2.48 |
| PE Ratio (TTM) | 1.88 |
| EPS (TTM) | 5.71 |
| Earnings Date | Oct 31, 2019 |
| Forward Dividend & Yield | 0.20 (1.91%) |
| Ex-Dividend Date | 2019-08-13 |
| 1y Target Est | 10.42 |
- Zacks
United States Steel (X) Gains As Market Dips: What You Should Know
United States Steel (X) closed at $10.72 in the latest trading session, marking a +0.85% move from the prior day.
- GlobeNewswire
U. S. Steel Conference Call Available on Company Website
PITTSBURGH, Oct. 18, 2019 -- United States Steel Corporation (NYSE: X) announced today that interested stockholders, investors and others may listen to the company’s third.
- GlobeNewswire
United States Steel Corporation Announces Pricing of Private Offering of $300 Million of 5.00% Senior Convertible Notes Due 2026
United States Steel Corporation (NYSE:X) (“U. S. Steel”) today announced the pricing of an aggregate principal amount of $300,000,000 5.00% Senior Convertible Notes due 2026 (the “notes”) in a previously announced private offering made only to persons reasonably expected to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In addition, U. S. Steel has granted the initial purchasers of the notes a 30-day option to purchase up to an additional $50,000,000 aggregate principal amount of the notes on the same terms and conditions (the “additional notes”).
- Moody's
Hoover (City of) AL, Industrial Devel. Board -- Moody's assigns B3 Senior Unsecured rating to U. S. Steel's New Convertible Senior Notes; affirms all other ratings
Moody's Investors Service ("Moody's") assigned a B3 senior unsecured rating to United States Steel Corporation's (U. S. Steel) Convertible Senior Notes Due November 2026. Moody's affirmed the B2 Corporate Family Rating (CFR), the B2-PD Probability of Default Rating, and the B3 senior unsecured ratings, including the IRB's and the ERB's. The Speculative Grade Liquidity Rating is unchanged at SGL-2.
- Zacks
U.S. Steel Declares Private Offering of Senior Notes Due 2026
U.S. Steel (X) plans to employ the net proceeds for general corporate purposes, which includes capital expenditures and earlier-announced strategic investments.
- Market Realist
Are Trump’s US Steel Tariffs Just a Pawn in the Game?
US steel tariffs have been a pawn in the broader game. In order to get a bigger trade deal, the US looked amenable to relaxing the tariffs.
- GlobeNewswire
United States Steel Corporation Announces Proposed Private Offering of $300,000,000 Senior Convertible Notes
United States Steel Corporation (X) (“U .S. Steel”) today announced that it intends to offer, subject to market conditions and certain other factors, an aggregate principal amount of $300,000,000 senior convertible notes due 2026 (the “notes”) in a private offering made only to persons reasonably expected to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). U. S. Steel also intends to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $50,000,000 principal amount of notes. The notes will be U. S. Steel’s general senior unsecured obligations and will rank equally in right of payment with all of its existing and future senior debt, and senior in right of payment to all of its future subordinated debt.
- American City Business Journals
Despite stronger-than-expected preliminary 3Q guidance, analysts say U.S. Steel still has several challenges ahead
United States Steel Corp. (NYSE: X) reported improved preliminary third quarter results on Oct. 10 compared to its projections a month prior, but analysts say the manufacturing giant still has several challenges ahead. The company reported that it expects to incur an $84 million to $94 million net loss, or a $35 million to $45 million adjusted net loss, according to a news release. Richard Bourke, a senior analyst at Bloomberg Intelligence, said three factors led to the net loss, primarily lower steel prices in the quarter that caused margin compression.
- Moody's
United States Steel Corporation -- Moody's assigns B3 senior unsecured rating to U.S. Steel's Environmental Revenue Bonds
Moody's Investors Service ("Moody's") assigned a B3 senior unsecured rating to The Industrial Development Board of the City of Hoover (Alabama) Environmental Improvement Revenue Bonds, Series 2019 and a B3 senior unsecured rating to Allegheny County Industrial Development Authority Environmental Improvement Revenue Refunding bonds, Series 2019. Repayment of all bonds is a direct obligations of United States Steel Corporation (U. S. Steel). All other ratings, including the SGL-2 Speculative Grade Liquidity Rating remain unchanged.
- Market Realist
Trump Steel Tariffs: Will History Repeat Itself?
Will President Trump lift the steel tariffs like President Bush? President Trump's steel tariffs will likely remain due to his support base.
- Zacks
US Raw Steel Production Slips, Slumping Prices Raise Red Flag
Falling steel prices and softer demand have raised concerns about a possible weak Q3 earnings season for the U.S. steel industry.
- Zacks
U.S. Steel (X) Updates Outlook for Q3, Trims Loss Guidance
U.S. Steel''s (X) updated earnings view for Q3 is better than the underwhelming guidance it had issued in September.
- Bloomberg
U.S. Steel Met by Skepticism as It Recasts Its Profit Guidance
(Bloomberg) -- U.S. Steel Corp. gave a third-quarter loss estimate that was better than its guidance just three weeks earlier, helped by a gain from claims arising out of a supplier’s bankruptcy.Analysts weren’t impressed. Shares were the second-worst performer on the S&P gauge of steelmakers. The stock has slumped 15% since the start of the month when it announced it’s paying $700 million to buy almost half of its high-tech rival Big River Steel, a purchase that will be funded by a lending facility.“You have to question the motive when a company pre-releases twice,” Phil Gibbs, an analyst at Keybanc Capital Markets, said in a telephone interview. “They’re trying to create good news for themselves, and I think it signals to me a kind of longer-term, more permanent capital raise is likely closer than the reverse.”On Thursday, U.S. Steel said in a statement it expects to report a third-quarter adjusted loss of 20 cents to 26 cents per share, up from a Sept. 18 estimate for a loss of 35 cents. That will beat a 32-cent average estimated loss by 13 analysts, according to data compiled by Bloomberg. The third-quarter results are due Oct. 31.“As we said in the press release, we released the preliminary results to support the company’s upcoming capital market activities to support the execution of our strategy,” a U.S. Steel spokeswoman said in an email.Earlier this month, U.S. Steel said it’s increasing its asset-backed lending facility to $2 billion, from $1.5 billion, to fund the purchase of a 49.9% stake in Big River. Days after the deal was announced, the company said Chief Financial Officer Kevin Bradley is leaving his current position.In a statement Thursday, the company said stronger shipments, better-than-expected manufacturing performance in its flat-rolled segment, and a contingency gain from recovered claims arising out of the bankruptcy of a supplier improved the outlook for earnings.The company’s adjusted earnings before interest, taxes, depreciation and amortization are expected to be in the range of $134 million to $144 million, excluding about $9 million of estimated third-quarter impacts from the Dec. 24, 2018 fire at the Clairton coke-making facility and $54 million of estimated restructuring charges, it said.“Why couldn’t you wait three weeks to say this? Because you’re desperate for good news,” Gibbs said. “Why would you be desperate for good news? You’d be desperate for good news because you need money, and why do you need money, because you just announced a $700 million acquisition in the last week and a half.”The deal comes at a time when the steelmaker’s cash level is already at the lowest in almost six years, and while the industry is beset by weakening demand and the prospect of oversupply in the market.Shares rose 0.5% to $10.14 in New York on Thursday, trailing a 2.8% advance in the S&P gauge of steelmakers.To contact the reporter on this story: Joe Deaux in New York at jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Benzinga
US Steel's Stronger-Than-Expected Preliminary Q3 Results Send Sector Higher
United States Steel Corporation (NYSE: X ) shares were trading higher Thursday after the company reported preliminary third-quarter results that outperformed gloomy guidance issued last month. The company ...
- MarketWatch
U.S. Steel shares jump 4.6% premarket after guidance that is less bad than feared
United States Steel Corp. shares rose 4.6% in premarket trade Thursday, after the company issued guidance for the third quarter that was less bad than feared. The company said it expects it let loss to range from $94 million to $84 million, or 55 cents a share to 49 cents a share. The company expects its adjusted loss per share to range from 26 cents to 20 cents, narrower than the 28 cent loss consensus of FactSet analysts. "Stronger shipments and better than expected manufacturing performance in our Flat-rolled segment, as well as a contingency gain from recovered claims arising out of the bankruptcy of a supplier drove better than expected results," the company said in a statement. The company is expecting third-quarter sales of $3.040 billion to $3.075 billion, ahead of the $3.020 billion FactSet consensus. Shares have fallen 45% in 2019, while the S&P 500 has gained 16%.
- GlobeNewswire
United States Steel Corporation Provides Preliminary Third Quarter 2019 Results
Preliminary net loss of approximately $94 – $84 million, or $0.55 – $0.49 per diluted sharePreliminary adjusted net loss of approximately $45 – $35 million, or $0.26 – $0.20 per.
- American City Business Journals
U.S. Steel announces further changes
United States Steel Corp. announced Wednesday that it would be implementing an enhanced operating model starting on Jan 1., which it said would reduce costs and more closely align the company with its strategic investments, like the recent purchase of a stake in Big River Steel. In a press release, U.S. Steel only gave a few details about their enhanced operating model. "We are intensely focused on improving our capabilities to win in strategic markets, reducing structural costs with a leaner footprint and attracting and investing in the best talent that share our S.T.E.E.L. Principles," U.S. Steel President and CEO David Burritt said in a prepared statement.
- TheStreet.com
[video]Stocks Finish Higher as U.S. and China Meet for Crucial Trade Talks
Stocks end higher Thursday as investors grow more optimistic about the start of the U.S.-China trade negotiations in Washington.
- TheStreet.com
US Steel Releases Q3 Earnings Forecasts; Shares Bounce from Near 3-Year Lows
US Steel shares traded higher Thursday after the group posted preliminary guidance for its third quarter earnings report later this month that suggests stronger-than-expected profits for the struggling steelmaker.
- Market Realist
Will U.S. Steel’s New Structure Beat the Weak Market?
U.S. Steel announced a new organizational structure and operating model. Will the company's latest transformational steps help it tide the weak market?
- Barrons.com
U.S. Steel and TimkenSteel Have Been Big Losers. Executives Are Leaving With Millions.
Now weak pricing for the metal and lackluster profits for the companies are shaking up management teams. Both (X) (ticker: X) and (TMST) (TMST) announced big management changes Wednesday. At (X)—one of the relatively few, older companies with a single-letter stock ticker—there is a new chief financial officer, not to mention new heads for strategy and manufacturing and a chief commercial officer, for sales.
- TheStreet.com
US Steel Extends Slump, Hits 3-Year Low After CFO Departure, Cost-Cutting Plans
United States Steel shares slump to the lowest levels in more than three years Wednesday after the struggling industrial group says it plans further cost cuts and that its chief financial officer will resign.
- Benzinga
'Fast Money Halftime Report' Traders Give Their View On Cisco, PayPal And More
On CNBC's "Fast Money Halftime Report," , Rob Sechan said that he is underweight the emerging markets broadly because of trade data, weak economic data and high valuations, but he likes Brazil. ...
- Yahoo Finance Video
Apple, U.S. Steel, Johnson & Johnson, PG&E, Lions Gate: Companies to Watch
Apple, U.S. Steel, Johnson & Johnson, PG&E and Lions Gate are the companies to watch.
