Zacks Research Issues Positive Outlook for X Earnings

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

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping 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 firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. The business’s quarterly revenue was down 17.8% on a year-over-year basis.

Several other brokerages also recently commented on X. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. StockNews.com began coverage on United States Steel in a research note on Monday, August 19th. They set a “hold” rating for the company. Jefferies Financial Group reduced their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.62.

United States Steel Stock Performance

Shares of NYSE X opened at $37.82 on Monday. 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 stock has a 50 day moving average of $36.72 and a 200-day moving average of $37.82. The company has a market capitalization of $8.51 billion, a P/E ratio of 16.88 and a beta of 1.87.

Hedge Funds Weigh In On United States Steel

Institutional investors have recently modified their holdings of the business. Water Island Capital LLC raised its holdings in shares of United States Steel by 5.3% during the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after buying an additional 45,567 shares in the last quarter. KGH Ltd raised its holdings in shares of United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after buying an additional 1,724,670 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of United States Steel by 94.3% during the 1st quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after buying an additional 102,450 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in United States Steel in the 1st quarter worth about $2,055,000. Finally, Gamco Investors INC. ET AL increased its holdings in United States Steel by 146.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock worth $1,060,000 after purchasing an additional 15,450 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. United States Steel’s payout ratio is 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.