United States Steel Corporation

United States Steel Corporation (X - Analyst Report) has seen 8 out of 10 covering analysts boost full-year earnings estimates since we featured this Growth and Income pick back in mid-July. Forecasts of $20.50 per share are above last month’s $16.00. The most accurate projection is more bullish at $21.46 per share.

Robust Growth with Record Numbers

The company recently announced second-quarter results and upped its dividend. Net income of $668 million soared past the previous year’s $302 million. During the past 5 consecutive quarters, earnings per share were on average about 9% ahead of analyst expectations, with the most recent results coming in at an impressive 49.5% above expectations.

Commenting on results, U. S. Steel Chairman and CEO John P. Surma said, "We recorded the highest quarterly sales and net income in U. S. Steel's history during the second quarter as all three reportable segments posted record results, reflecting strong operating performance and favorable global pricing dynamics."

Higher Income

U.S. Steel declared a dividend of 30 cents per share, which is an increase of 5 cents per share. The company noted that the dividend is payable September 10, 2008, to stockholders of record at the close of business August 13, 2008. Read our July 17 analysis.

Last Week's Growth and Income Zacks Rank Buy Stocks

L-3 Communications Holdings, Inc. (LLL - Analyst Report) has seen its shares rebound from recent lows. Strong second-quarter results should spur further growth. In late July, the company posted second-quarter earnings of $1.67 per share, eclipsing the year-prior $1.49 and beating Wall Street expectations by 2.45%. Read the full analysis on LLL.

EOG Resources (EOG - Analyst Report) recently reported adjusted non-GAAP earnings of $2.52 per share for the second quarter. The result topped last year’s $1.17 and exceeded Wall Street expectations by 11.5%. The natural gas and crude oil company also hiked its dividend by 12.5%. Read the full analysis on EOG.

Snap-on, Inc. (SNA - Analyst Report) saw a sizeable share price boost on a strong second quarter, sending the stock to a near 52-week high level. Analysts see more growth ahead as evidenced by higher full-year earnings forecasts. The company’s dividend yield of 2.1% remains very competitive when measured against the industry average of 0.9%. Read the full analysis on SNA.

Occidental Petroleum Corporation (OXY - Analyst Report) recently announced a record second quarter. Earnings per share of $2.79 exceeded the consensus estimate by 3% and more than doubled the year-prior result. Revenue of $7.12 billion climbed from last year’s $4.41 billion. Read the full analysis on OXY.