United States Steel Co. (NYSE:X) Plans $0.05 Quarterly Dividend

United States Steel Co. (NYSE:X) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Monday, August 12th will be paid 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 yield of 0.48%. The ex-dividend date is Monday, August 12th.

United States Steel has raised its dividend by an average of 71.0% annually over the last three years. United States Steel has a dividend payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.1 %

Shares of NYSE X opened at $41.37 on Friday. The company’s 50 day simple moving average is $38.58 and its 200 day simple moving average is $40.70. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20. The firm has a market capitalization of $9.30 billion, a P/E ratio of 12.13 and a beta of 1.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14.

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 company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. On average, analysts predict that United States Steel will post 2.38 EPS for the current year.

Analysts Set New Price Targets

X has been the topic of a number of research analyst reports. 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 stock from $43.00 to $45.00 in a report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. StockNews.com initiated coverage on shares of United States Steel in a report on Sunday. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on shares of United States Steel in a report on Monday, May 20th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $51.00 to $48.00 in a report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.