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

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on X. Morgan Stanley boosted their price objective on shares of United States Steel from $48.00 to $49.00 and gave the company an overweight rating in a research report on Thursday, August 15th. StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They issued a hold rating for the company. BNP Paribas raised shares of United States Steel from a neutral rating to an outperform rating and set a $40.00 price target for the company in a research report on Friday, September 6th. Jefferies Financial Group lowered their price target 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. Finally, Glj Research raised shares of United States Steel from a sell rating to a buy rating and set a $38.57 price target for the company in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $39.76.

United States Steel Trading Up 3.5 %

NYSE X opened at $38.07 on Friday. The company has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $38.76. The stock has a market cap of $8.56 billion, a P/E ratio of 11.16 and a beta of 1.88. United States Steel has a 12-month low of $26.92 and a 12-month high of $50.20. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. 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.