Zacks Research Issues Pessimistic Estimate for X Earnings

United States Steel Co. (NYSE:X) – Stock analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of United States Steel in a research note issued to investors on Tuesday, October 22nd. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings of $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.

A number of other equities research analysts have also weighed in on X. Jefferies Financial Group cut their target price on shares of 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. Morgan Stanley upped their target price on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. StockNews.com assumed coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised 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. Finally, Glj Research upgraded 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.62.

United States Steel Stock Down 1.8 %

Shares of United States Steel stock opened at $38.79 on Friday. 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 has a 12-month low of $26.92 and a 12-month high of $50.20. The company has a market cap of $8.73 billion, a P/E ratio of 17.32 and a beta of 1.87. The company’s fifty day simple moving average is $36.45 and its two-hundred day simple moving average is $37.80.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 7.93% and a net margin of 3.40%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS.

Hedge Funds Weigh In On United States Steel

A number of hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. lifted its position in United States Steel by 7.4% in the 3rd quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock valued at $166,752,000 after acquiring an additional 326,876 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of United States Steel by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 26,036 shares of the basic materials company’s stock valued at $919,000 after purchasing an additional 1,760 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of United States Steel by 1.7% during 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 during the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 valued at $20,185,000 after buying an additional 558,757 shares during the last quarter. Finally, Jade Capital Advisors LLC increased its holdings in United States Steel by 50.0% in the 3rd 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 in the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Announces Dividend

The business also recently declared 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 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 presently 8.93%.

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.