United States Steel Co. (NYSE:X) to Issue Quarterly Dividend of $0.05

United States Steel Co. (NYSE:X) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Stockholders of record on Monday, August 12th will be given a dividend of 0.05 per share by the basic materials company on Wednesday, September 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, August 12th.

United States Steel has raised its dividend payment by an average of 71.0% annually over the last three years. United States Steel has a dividend payout ratio of 6.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect United States Steel to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.1%.

United States Steel Price Performance

X opened at $41.37 on Friday. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 12.13 and a beta of 1.93. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $38.58 and a 200-day moving average price of $40.70. United States Steel has a twelve month low of $22.26 and a twelve month high of $50.20.

United States Steel (NYSE:X) last posted its 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. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The company’s revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share. Equities analysts expect that United States Steel will post 2.38 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 target price for the company. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $51.00 to $48.00 in a research report on Monday, May 6th. StockNews.com assumed coverage on shares of United States Steel in a research report on Sunday. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, United States Steel presently has an average rating of “Hold” and an average target price of $40.00.

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.