United States Steel Co. (NYSE:X) Expected to Post Q2 2024 Earnings of $0.72 Per Share

United States Steel Co. (NYSE:X - Free Report) - Research analysts at Zacks Research increased their Q2 2024 earnings estimates for shares of United States Steel in a report released on Wednesday, May 22nd. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings per share of $0.72 for the quarter, up from their previous forecast of $0.69. The consensus estimate for United States Steel's current full-year earnings is $2.99 per share. Zacks Research also issued estimates for United States Steel's Q3 2024 earnings at $0.68 EPS, Q1 2025 earnings at $0.76 EPS and Q2 2025 earnings at $0.89 EPS.

Several other research analysts have also issued reports on the company. Jefferies Financial Group began coverage on United States Steel in a research report on Monday. They set a "buy" rating and a $45.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of United States Steel from $47.00 to $43.00 and set a "neutral" rating for the company in a report on Friday, May 3rd. BMO Capital Markets reduced their price objective on shares of United States Steel from $55.00 to $45.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 19th. Wolfe Research raised shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research note on Tuesday, April 9th. Finally, Morgan Stanley raised shares of United States Steel from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $51.00 to $48.00 in a research report on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, United States Steel currently has a consensus rating of "Hold" and an average target price of $38.78.

United States Steel Trading Down 0.8 %

X traded down $0.29 during trading on Thursday, reaching $35.93. 4,145,439 shares of the company's stock were exchanged, compared to its average volume of 4,266,600. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. United States Steel has a one year low of $20.40 and a one year high of $50.20. The firm has a fifty day moving average price of $39.04 and a two-hundred day moving average price of $41.92. The stock has a market capitalization of $8.08 billion, a PE ratio of 10.62 and a beta of 2.06.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.22 billion.

Institutional Investors Weigh In On United States Steel

Institutional investors and hedge funds have recently made changes to their positions in the business. Third Point LLC bought a new position in shares of United States Steel in the third quarter valued at approximately $154,280,000. Norges Bank bought a new position in shares of United States Steel during the fourth quarter valued at about $200,952,000. KRYGER CAPITAL Ltd purchased a new position in United States Steel during the fourth quarter worth about $95,529,000. Laurion Capital Management LP bought a new stake in United States Steel in the 3rd quarter worth about $50,912,000. Finally, Segantii Capital Management Ltd purchased a new stake in United States Steel in the 4th quarter valued at about $68,840,000. Institutional investors and hedge funds own 81.92% of the company's stock.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel's payout ratio is currently 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.