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

United States Steel (NYSE:X) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.44-0.48 for the period, compared to the consensus EPS estimate of $0.35. United States Steel also updated its Q3 2024 guidance to 0.440-0.480 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on X. BMO Capital Markets raised shares of United States Steel from a market perform rating to an outperform rating and raised their price objective for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. Jefferies Financial Group reduced their price objective on shares of United States Steel from $47.00 to $41.00 and set a buy rating for the company in a research report on Thursday, September 5th. Glj Research raised shares of United States Steel from a sell rating to a buy rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a neutral rating to an overweight rating and raised their price objective for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Finally, Morgan Stanley raised their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an overweight rating in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, United States Steel currently has a consensus rating of Moderate Buy and a consensus price target of $39.76.

United States Steel Price Performance

Shares of NYSE:X opened at $38.96 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $38.09 and its two-hundred day simple moving average is $38.63. United States Steel has a 1-year low of $26.92 and a 1-year high of $50.20. The stock has a market cap of $8.76 billion, a PE ratio of 11.43 and a beta of 1.88.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $1.92 EPS. The business’s revenue was down 17.8% on a year-over-year basis. As a group, analysts forecast that United States Steel will post 2.15 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.