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

United States Steel (NYSE:X) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. 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

Several analysts have issued reports on X shares. JPMorgan Chase & Co. dropped their target price on United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Morgan Stanley upgraded United States Steel from an equal weight rating to an overweight rating and cut their target price for the company from $51.00 to $48.00 in a research note on Monday, May 6th. StockNews.com assumed coverage on shares of United States Steel in a research report on Sunday. They set a hold rating for the company. Jefferies Financial Group assumed coverage on shares of United States Steel in a research report on Monday, May 20th. They issued a buy rating and a $45.00 price objective on the stock. Finally, BMO Capital Markets decreased their target price on shares of United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a research report on Tuesday, March 19th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $38.78.

United States Steel Stock Performance

NYSE X opened at $37.07 on Wednesday. The stock has a 50-day simple moving average of $37.86 and a two-hundred day simple moving average of $42.33. The firm has a market capitalization of $8.34 billion, a P/E ratio of 10.87 and a beta of 1.99. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71.

United States Steel (NYSE:X) last posted its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. On average, equities analysts forecast that United States Steel will post 2.72 earnings per share for the current year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders 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 dividend yield of 0.54%. The ex-dividend date was Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

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.