Zacks Research Issues Positive Estimate for X Earnings

United States Steel Co. (NYSE:X) – Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for United States Steel in a research report issued to clients and investors on Thursday, October 17th. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings per share of $0.42 for the quarter, up from their previous estimate of $0.32. 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 $2.17 EPS and Q3 2025 earnings at $0.66 EPS.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group lowered their price objective 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. JPMorgan Chase & Co. upgraded shares of 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 research note on Monday, September 9th. StockNews.com started coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. 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 research note on Monday, September 9th. Finally, Morgan Stanley raised their target price on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Four 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 currently has an average rating of “Moderate Buy” and an average target price of $40.62.

United States Steel Stock Performance

NYSE:X opened at $38.90 on Monday. United States Steel has a 1 year low of $26.92 and a 1 year high of $50.20. The firm has a 50 day moving average of $36.61 and a 200-day moving average of $37.79. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $8.75 billion, a P/E ratio of 17.37 and a beta of 1.87.

United States Steel (NYSE:X) last issued its quarterly earnings results 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate 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 revenue was down 17.8% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were given a $0.05 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. United States Steel’s dividend payout ratio is currently 8.93%.

Hedge Funds Weigh In On United States Steel

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in United States Steel by 4,445.5% during the third quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company’s stock worth $20,185,000 after buying an additional 558,757 shares during the last quarter. Jade Capital Advisors LLC raised its stake in United States Steel by 50.0% during the third quarter. Jade Capital Advisors LLC now owns 15,000 shares of the basic materials company’s stock worth $530,000 after buying an additional 5,000 shares during the last quarter. Palouse Capital Management Inc. bought a new position in United States Steel during the third quarter worth $35,000. Blue Trust Inc. raised its stake in United States Steel by 176.4% during the third quarter. Blue Trust Inc. now owns 2,767 shares of the basic materials company’s stock worth $105,000 after buying an additional 1,766 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in United States Steel by 103.7% during the third quarter. Vontobel Holding Ltd. now owns 18,971 shares of the basic materials company’s stock worth $670,000 after buying an additional 9,660 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.