United States Steel (NYSE:X – Get Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.44-0.48 for the period, compared to the consensus earnings per share estimate of $0.35. United States Steel also updated its Q3 2024 guidance to 0.440-0.480 EPS.
United States Steel Trading Up 2.3 %
X stock opened at $38.96 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. The company’s 50-day simple moving average is $38.09 and its 200 day simple moving average is $38.63. United States Steel has a 52 week low of $26.92 and a 52 week high of $50.20. The company has a market capitalization of $8.76 billion, a PE ratio of 11.43 and a beta of 1.88.
United States Steel (NYSE:X – Get Free Report) last posted its quarterly earnings data 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 net margin of 3.40% and a return on equity of 7.93%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the business posted $1.92 earnings per share. United States Steel’s revenue was down 17.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that United States Steel will post 2.15 earnings per share for the current year.
United States Steel Dividend Announcement
Analyst Ratings Changes
Several equities research analysts recently weighed in on X shares. Jefferies Financial Group cut their price objective 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. BNP Paribas raised shares of United States Steel from a neutral rating to an outperform rating and set a $40.00 price objective for the company in a research report on Friday, September 6th. Glj Research raised shares of United States Steel from a sell rating to a buy rating and set a $38.57 target price for the company in a report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a neutral rating to an overweight rating and increased their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, United States Steel currently has an average rating of Moderate Buy and an average target price of $39.76.
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.
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