Zacks Research Issues Pessimistic Forecast for X Earnings

United States Steel Co. (NYSE:X) – Research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for United States Steel in a research report issued on Tuesday, October 22nd. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.42. The consensus estimate for United States Steel’s current full-year earnings is $2.17 per share. Zacks Research also issued estimates for United States Steel’s FY2024 earnings at $2.16 EPS.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 17.8% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS.

A number of other research firms have also recently commented on X. Jefferies Financial Group lowered their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Finally, Morgan Stanley boosted their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.62.

United States Steel Stock Performance

NYSE:X opened at $39.50 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. United States Steel has a twelve month low of $26.92 and a twelve month high of $50.20. The stock has a market cap of $8.89 billion, a P/E ratio of 17.63 and a beta of 1.87. The firm’s fifty day simple moving average is $36.51 and its 200 day simple moving average is $37.82.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s payout ratio is 8.93%.

Hedge Funds Weigh In On United States Steel

A number of hedge funds have recently added to or reduced their stakes in X. Rothschild Investment LLC purchased a new position in United States Steel in the second quarter worth about $26,000. Palouse Capital Management Inc. purchased a new position in shares of United States Steel in the third quarter worth approximately $35,000. Blue Trust Inc. boosted its holdings in shares of United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after buying an additional 773 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in United States Steel during the second quarter valued at approximately $46,000. Finally, Headlands Technologies LLC purchased a new stake in United States Steel during the first quarter valued at approximately $58,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.