United States Steel (NYSE:X) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

United States Steel (NYSE:X) issued its quarterly earnings results on Thursday. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15, Briefing.com reports. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.06%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share.

United States Steel Trading Down 0.6 %

Shares of X traded down $0.22 during trading hours on Friday, reaching $38.63. 6,798,935 shares of the company traded hands, compared to its average volume of 2,377,362. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 25.41 and a beta of 1.86. United States Steel has a 12-month low of $26.92 and a 12-month high of $50.20. The stock’s fifty day moving average price is $36.52 and its 200 day moving average price is $37.68. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be paid a $0.05 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. United States Steel’s payout ratio is 13.16%.

Analysts Set New Price Targets

Several research analysts have weighed in on X shares. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Jefferies Financial Group cut their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. StockNews.com assumed coverage on shares of United States Steel in a report on Monday, August 19th. They issued a “hold” rating on the stock. 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 report on Monday, September 9th. Finally, BMO Capital Markets reduced their target price on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

About United States Steel

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.