United States Steel Co. (NYSE:X) Forecasted to Post Q1 2024 Earnings of $0.77 Per Share

United States Steel Co. (NYSE:X) – Zacks Research cut their Q1 2024 earnings estimates for shares of United States Steel in a report released on Monday, April 15th. Zacks Research analyst A. Barman now expects that the basic materials company will earn $0.77 per share for the quarter, down from their prior estimate of $0.88. The consensus estimate for United States Steel’s current full-year earnings is $3.17 per share. Zacks Research also issued estimates for United States Steel’s Q4 2024 earnings at $0.57 EPS and Q1 2025 earnings at $0.80 EPS.

Several other equities research analysts have also recently commented on the stock. StockNews.com assumed coverage on shares of United States Steel in a research report on Saturday. They issued a “hold” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of United States Steel in a research note on Friday, January 12th. They set a “neutral” rating and a $52.00 price objective for the company. Morgan Stanley lowered shares of United States Steel from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. Finally, BMO Capital Markets reduced their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, March 19th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.89.

United States Steel Trading Down 1.2 %

NYSE:X opened at $40.84 on Tuesday. The company has a 50-day moving average price of $43.80 and a 200-day moving average price of $41.11. United States Steel has a 12 month low of $20.40 and a 12 month high of $50.20. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 11.64 and a beta of 2.01.

United States Steel (NYSE:X) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.46. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 EPS.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s dividend payout ratio is currently 5.70%.

Institutional Investors Weigh In On United States Steel

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Capital Wealth Advisors Inc. bought a new stake in United States Steel in the fourth quarter worth $25,000. ICA Group Wealth Management LLC bought a new position in United States Steel during the fourth quarter valued at $28,000. Riverview Trust Co bought a new position in United States Steel during the first quarter valued at $29,000. Steward Partners Investment Advisory LLC increased its position in United States Steel by 103.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 618 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 314 shares during the last quarter. Finally, Wolff Wiese Magana LLC increased its position in United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 635 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

About United States Steel

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.