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

United States Steel (NYSE:X) 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) 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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 12th. This represents a $0.20 annualized dividend and a yield of 0.51%. United States Steel’s dividend payout ratio is 5.87%.

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.