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

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

United States Steel Stock Performance

Shares of NYSE X opened at $36.80 on Thursday. United States Steel has a 1 year low of $26.92 and a 1 year high of $50.20. The firm has a market cap of $8.28 billion, a P/E ratio of 10.79 and a beta of 1.88. The stock has a fifty day moving average price of $38.11 and a two-hundred day moving average price of $38.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72.

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

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were paid a $0.05 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. United States Steel’s dividend payout ratio is currently 5.87%.

Analyst Ratings Changes

A number of brokerages recently weighed in on X. 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. BMO Capital Markets raised United States Steel from a market perform rating to an outperform rating and raised their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upgraded United States Steel from a neutral rating to an overweight rating and lifted their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. StockNews.com began coverage on United States Steel in a research report on Monday, August 19th. They issued a hold rating for the company. Finally, Jefferies Financial Group dropped their price target on United States Steel from $47.00 to $41.00 and set a buy rating on the stock in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.76.

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.