Q3 EPS Forecast for United States Steel Decreased by Analyst

United States Steel Co. (NYSE:X - Free Report) - Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for United States Steel in a research report issued to clients and investors on Tuesday, October 22nd. Zacks Research analyst A. Barman now forecasts that the basic materials company will earn $0.41 per share for the quarter, down from their prior forecast of $0.42. The consensus estimate for United States Steel's current full-year earnings is $2.17 per share. Zacks Research also issued estimates for United States Steel's FY2024 earnings at $2.16 EPS.

United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.92 EPS.

Several other research firms have also recently commented on X. StockNews.com started coverage on United States Steel in a research note on Monday, August 19th. They set a "hold" rating for the company. Jefferies Financial Group cut their target price on United States Steel from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised United States Steel from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research upgraded 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. Finally, BNP Paribas raised shares of United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price objective on the stock in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.62.

United States Steel Trading Down 1.7 %

Shares of NYSE:X traded down $0.68 during mid-day trading on Friday, reaching $38.82. 2,362,549 shares of the company were exchanged, compared to its average volume of 4,365,458. United States Steel has a 1 year low of $26.92 and a 1 year high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. The firm's 50-day simple moving average is $36.45 and its 200 day simple moving average is $37.80. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 17.33 and a beta of 1.87.

Institutional Investors Weigh In On United States Steel

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its position in United States Steel by 0.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company's stock worth $1,016,000 after purchasing an additional 241 shares during the period. Founders Capital Management boosted its position in shares of United States Steel by 9.4% in the third quarter. Founders Capital Management now owns 3,500 shares of the basic materials company's stock worth $124,000 after buying an additional 300 shares during the period. Arkadios Wealth Advisors grew its stake in shares of United States Steel by 1.7% in the third quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company's stock valued at $658,000 after buying an additional 306 shares in the last quarter. Diversified Trust Co raised its holdings in shares of United States Steel by 4.0% during the 1st quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company's stock valued at $341,000 after buying an additional 324 shares during the period. Finally, Signaturefd LLC boosted its holdings in United States Steel by 8.3% in the 2nd quarter. Signaturefd LLC now owns 4,673 shares of the basic materials company's stock worth $177,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. United States Steel's payout ratio is currently 8.93%.

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.