United States Steel (NYSE:X) Issues Q3 Earnings Guidance

United States Steel (NYSE:X) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.44-0.48 for the period, compared to the consensus EPS estimate of $0.35. United States Steel also updated its Q3 2024 guidance to 0.440-0.480 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded United States Steel from a neutral rating to an overweight rating and upped their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Morgan Stanley increased their target price on shares of 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 shares of United States Steel in a research report on Monday, August 19th. They set a hold rating on the stock. Jefferies Financial Group lowered their price target 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. Finally, Glj Research raised shares of United States Steel from a sell rating to a buy rating and set a $38.57 price objective on the stock in a report on Monday, September 9th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $39.76.

United States Steel Stock Performance

Shares of X opened at $38.96 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. The firm has a market cap of $8.76 billion, a PE ratio of 11.43 and a beta of 1.88. United States Steel has a 12 month low of $26.92 and a 12 month high of $50.20. The stock has a fifty day moving average price of $38.09 and a 200-day moving average price of $38.70.

United States Steel (NYSE:X) last released 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 company had revenue of $4.12 billion for 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%. United States Steel’s revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. Equities research analysts predict that United States Steel will post 2.15 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is 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.