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

United States Steel (NYSE:X) issued an update on its third quarter earnings guidance on Thursday morning. 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.

United States Steel Trading Up 2.3 %

United States Steel stock 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. United States Steel has a 12-month low of $26.92 and a 12-month high of $50.20. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 11.43 and a beta of 1.88. The firm has a 50 day moving average of $38.09 and a 200 day moving average of $38.70.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business’s revenue was down 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 earnings per share. As a group, research analysts predict that United States Steel will post 2.15 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on X. StockNews.com began coverage on United States Steel in a research note on Monday, August 19th. They issued a hold rating on the stock. Jefferies Financial Group reduced their target price on shares of United States Steel from $47.00 to $41.00 and set a buy rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of United States Steel from a neutral rating to an overweight rating and increased their price target for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research raised United States Steel from a sell rating to a buy rating and set a $38.57 price objective on the stock in a research note on Monday, September 9th. Finally, BNP Paribas upgraded United States Steel from a neutral rating to an outperform rating and set a $40.00 price objective on the stock in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target 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.