United States Steel (NYSE:X) Updates Q3 2024 Earnings Guidance

United States Steel (NYSE:X) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.440-0.480 for the period, compared to the consensus estimate of 0.390. The company issued revenue guidance of -. United States Steel also updated its Q3 guidance to $0.44-0.48 EPS.

United States Steel Price Performance

Shares of X stock opened at $36.80 on Thursday. The firm has a fifty day moving average of $38.11 and a two-hundred day moving average of $38.76. The firm has a market cap of $8.28 billion, a P/E ratio of 10.79 and a beta of 1.88. United States Steel has a 1-year low of $26.92 and a 1-year high of $50.20. 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 announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $1.92 earnings per share. United States Steel’s quarterly revenue was down 17.8% on a year-over-year basis. As a group, research analysts anticipate that United States Steel will post 2.15 earnings per share for the current fiscal 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 paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Ratings Changes

X has been the topic of a number of research reports. StockNews.com initiated coverage on shares of United States Steel in a report on Monday, August 19th. They set a hold rating on the stock. Morgan Stanley increased 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. BMO Capital Markets upgraded United States Steel from a market perform rating to an outperform rating and lifted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. BNP Paribas raised United States Steel from a neutral rating to an outperform rating and set a $40.00 target price for the company in a report on Friday, September 6th. Finally, Glj Research raised United States Steel from a sell rating to a buy rating and set a $38.57 price target on the stock in a report on Monday, September 9th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.