Equities Analysts Set Expectations for X Q3 Earnings

United States Steel Co. (NYSE:X) – Investment analysts at Zacks Research cut their Q3 2024 EPS estimates for United States Steel in a report issued on Tuesday, October 22nd. Zacks Research analyst A. Barman now anticipates that the basic materials company will earn $0.41 per share for the quarter, down from their previous estimate 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 earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion during 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%. During the same quarter in the prior year, the firm earned $1.92 earnings per share. United States Steel’s revenue for the quarter was down 17.8% on a year-over-year basis.

A number of other research analysts have also recently commented on the company. StockNews.com began coverage on shares of United States Steel in a research note on Monday, August 19th. They set a “hold” rating on the stock. Morgan Stanley boosted their price target on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. 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 United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised 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 research note on Monday, September 9th. Four research 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.62.

United States Steel Stock Performance

United States Steel stock opened at $38.82 on Friday. United States Steel has a 1-year low of $26.92 and a 1-year high of $50.20. The firm has a market cap of $8.73 billion, a P/E ratio of 17.33 and a beta of 1.87. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $36.45 and a 200-day moving average of $37.80.

Institutional Investors Weigh In On United States Steel

Several large investors have recently made changes to their positions in X. Massachusetts Financial Services Co. MA lifted its holdings in shares of United States Steel by 4,305.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after acquiring an additional 3,551,870 shares during the last quarter. KGH Ltd raised its position in United States Steel by 68.2% during the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after purchasing an additional 1,724,670 shares during the period. Murchinson Ltd. lifted its stake in shares of United States Steel by 66.5% in the 1st quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock valued at $85,638,000 after purchasing an additional 838,653 shares during the last quarter. Forest Avenue Capital Management LP purchased a new position in shares of United States Steel in the 2nd quarter worth approximately $22,770,000. Finally, International Assets Investment Management LLC increased its position in shares of United States Steel by 4,445.5% during the 3rd quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company’s stock valued at $20,185,000 after purchasing an additional 558,757 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

United States Steel Dividend Announcement

The firm also recently announced 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. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio is currently 8.93%.

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.