United States Steel (NYSE:X) Updates Q2 2024 Earnings Guidance

United States Steel (NYSE:X) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.780-0.780 for the period, compared to the consensus earnings per share estimate of 0.830. The company issued revenue guidance of -.

Analyst Ratings Changes

X has been the subject of several analyst reports. Morgan Stanley upgraded United States Steel from an equal weight rating to an overweight rating and cut their target price for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Jefferies Financial Group started coverage on United States Steel in a research report on Monday, May 20th. They issued a buy rating and a $45.00 price objective for the company. StockNews.com started coverage on United States Steel in a research report on Sunday. They issued a hold rating for the company. Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lowered their target price on United States Steel from $47.00 to $43.00 and set a neutral rating for the company in a research note on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, United States Steel has a consensus rating of Hold and a consensus target price of $38.78.

United States Steel Stock Down 2.2 %

Shares of United States Steel stock traded down $0.80 during trading on Tuesday, reaching $36.07. The stock had a trading volume of 517,267 shares, compared to its average volume of 4,019,952. United States Steel has a 52 week low of $22.26 and a 52 week high of $50.20. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 10.91 and a beta of 2.00. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $37.96 and a two-hundred day moving average price of $42.32.

United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. Sell-side analysts predict that United States Steel will post 2.72 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, May 10th. 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.