United States Steel Co. (NYSE:X) Expected to Earn FY2023 Earnings of $3.40 Per Share

United States Steel Co. (NYSE:X – Get Rating) – KeyCorp lifted their FY2023 EPS estimates for shares of United States Steel in a report issued on Monday, March 13th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $3.40 per share for the year, up from their prior estimate of $2.25. The consensus estimate for United States Steel’s current full-year earnings is $1.91 per share.

United States Steel (NYSE:X – Get Rating) last issued its quarterly earnings results on Friday, February 3rd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.27. United States Steel had a net margin of 11.98% and a return on equity of 26.75%. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business earned $3.64 EPS. United States Steel’s quarterly revenue was down 22.8% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on X. Bank of America assumed coverage on shares of United States Steel in a report on Wednesday, January 4th. They set an “underperform” rating on the stock. The Goldman Sachs Group boosted their price target on United States Steel from $23.00 to $26.00 and gave the stock a “sell” rating in a research note on Monday, February 6th. BMO Capital Markets increased their price objective on United States Steel from $25.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, February 6th. Morgan Stanley lifted their price objective on United States Steel from $20.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Finally, StockNews.com began coverage on shares of United States Steel in a research note on Thursday. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, United States Steel currently has an average rating of “Hold” and a consensus target price of $29.29.

United States Steel Stock Up 0.3 %

Shares of NYSE:X opened at $24.52 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $28.47 and a two-hundred day simple moving average of $24.72. United States Steel has a 12-month low of $16.41 and a 12-month high of $39.25. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 2.73 and a beta of 2.20.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. United States Steel’s dividend payout ratio is presently 2.23%.

Insider Activity

In other United States Steel news, Director Andrea J. Ayers purchased 1,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were bought at an average cost of $31.45 per share, with a total value of $31,450.00. Following the acquisition, the director now owns 5,014 shares in the company, valued at $157,690.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Kenneth E. Jaycox sold 6,090 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $30.00, for a total transaction of $182,700.00. Following the completion of the transaction, the senior vice president now owns 79,637 shares in the company, valued at $2,389,110. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrea J. Ayers bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was purchased at an average price of $31.45 per share, for a total transaction of $31,450.00. Following the completion of the transaction, the director now directly owns 5,014 shares of the company’s stock, valued at approximately $157,690.30. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On United States Steel

Large investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new stake in United States Steel during the fourth quarter worth approximately $28,000. Belpointe Asset Management LLC bought a new position in shares of United States Steel during the 4th quarter valued at approximately $29,000. Avion Wealth purchased a new stake in United States Steel during the 2nd quarter valued at $36,000. Alpha Paradigm Partners LLC bought a new stake in United States Steel in the second quarter worth $39,000. Finally, CWM LLC boosted its stake in United States Steel by 26.5% during the fourth quarter. CWM LLC now owns 1,682 shares of the basic materials company’s stock worth $42,000 after buying an additional 352 shares during the period. Institutional investors own 75.02% of the company’s stock.

United States Steel Company Profile

(Get Rating)

United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.