United States Steel (NYSE:X) Updates Q3 2024 Earnings Guidance

United States Steel (NYSE:X) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.440-0.480 for the period, compared to the consensus earnings per share estimate of 0.390. The company issued revenue guidance of -. United States Steel also updated its Q3 guidance to $0.44-0.48 EPS.

Analyst Upgrades and Downgrades

X has been the subject of several analyst reports. Jefferies Financial Group dropped 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. Glj Research upgraded shares of United States Steel from a sell rating to a buy rating and set a $38.57 target price for the company in a report on Monday, September 9th. BNP Paribas upgraded United States Steel from a neutral rating to an outperform rating and set a $40.00 price target on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. upgraded United States Steel from a neutral rating to an overweight rating and increased their price objective for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, StockNews.com assumed coverage on United States Steel in a research note on Monday, August 19th. They set a hold rating on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $39.76.

United States Steel Stock Up 2.3 %

X stock opened at $38.96 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $38.09 and a 200 day moving average of $38.63. United States Steel has a twelve month low of $26.92 and a twelve month high of $50.20. The firm 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 released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm’s quarterly revenue was down 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 EPS. On average, research analysts forecast that United States Steel will post 2.15 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, August 12th. United States Steel’s payout ratio 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.