United States Steel Co. to Post FY2023 Earnings of $1.63 Per Share, KeyCorp Forecasts (NYSE:X)

United States Steel Co. (NYSE:XGet Rating) – KeyCorp upped their FY2023 earnings estimates for United States Steel in a note issued to investors on Monday, November 21st. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $1.63 per share for the year, up from their prior estimate of $1.25. The consensus estimate for United States Steel’s current full-year earnings is $9.29 per share.

Several other equities research analysts have also recently weighed in on X. Citigroup upped their target price on United States Steel to $27.00 in a report on Tuesday, September 13th. Morgan Stanley lowered their price objective on shares of United States Steel from $21.50 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 2nd. The Goldman Sachs Group cut their target price on shares of United States Steel from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, October 6th. Credit Suisse Group lowered their price target on shares of United States Steel from $44.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. Finally, StockNews.com started coverage on shares of United States Steel in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.88.

United States Steel Stock Up 0.6 %

Shares of NYSE X opened at $26.01 on Thursday. The stock has a 50 day moving average price of $20.93 and a 200 day moving average price of $21.77. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 2.16 and a beta of 2.14. United States Steel has a 52-week low of $16.41 and a 52-week high of $39.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.37 and a current ratio of 2.03.

United States Steel (NYSE:XGet Rating) last released its quarterly earnings data on Friday, October 28th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.02. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.99 billion. United States Steel had a net margin of 15.30% and a return on equity of 35.74%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $5.36 EPS.

Institutional Trading of United States Steel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in United States Steel by 14.7% in the second quarter. Van ECK Associates Corp now owns 259,175 shares of the basic materials company’s stock valued at $4,642,000 after buying an additional 33,173 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of United States Steel by 12.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,509,193 shares of the basic materials company’s stock valued at $56,957,000 after purchasing an additional 172,300 shares during the last quarter. CX Institutional acquired a new stake in United States Steel in the 2nd quarter worth approximately $513,000. Thompson Siegel & Walmsley LLC grew its position in United States Steel by 195.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,456,044 shares of the basic materials company’s stock worth $43,987,000 after purchasing an additional 1,623,882 shares during the last quarter. Finally, Empirical Finance LLC acquired a new position in United States Steel during the 2nd quarter valued at approximately $247,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

United States Steel announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 28th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 8.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Monday, November 7th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, November 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. United States Steel’s dividend payout ratio (DPR) is presently 1.66%.

About United States Steel

(Get Rating)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.

Read More

Earnings History and Estimates for United States Steel (NYSE:X)

Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.