United States Steel (NYSE:X) Announces Earnings Results, Beats Expectations By $0.12 EPS

United States Steel (NYSE:X) released its earnings results on Thursday. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12, Briefing.com reports. United States Steel had a net margin of 3.40% and a return on equity of 7.98%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. United States Steel’s revenue was down 17.8% compared to the same quarter last year.

United States Steel Stock Down 0.9 %

Shares of NYSE X traded down $0.37 during trading on Friday, reaching $40.29. 3,042,898 shares of the stock were exchanged, compared to its average volume of 2,476,965. The business’s 50-day moving average price is $38.25 and its 200 day moving average price is $40.95. United States Steel has a twelve month low of $22.26 and a twelve month high of $50.20. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 11.82 and a beta of 1.93.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. United States Steel’s payout ratio is currently 5.87%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on X. StockNews.com began coverage on shares of United States Steel in a report on Saturday. They issued a “hold” rating for the company. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 9th. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $51.00 to $48.00 in a research report on Monday, May 6th. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group initiated coverage on shares of United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 price target on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.00.

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.