FY2024 Earnings Forecast for United States Steel Co. Issued By Zacks Research (NYSE:X)

United States Steel Co. (NYSE:X) – Zacks Research reduced their FY2024 earnings per share (EPS) estimates for United States Steel in a note issued to investors on Monday, April 15th. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings of $2.64 per share for the year, down from their prior forecast of $2.79. 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 Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $3.36 EPS.

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

X has been the topic of a number of other research reports. JPMorgan Chase & Co. began coverage on United States Steel in a report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Morgan Stanley downgraded shares of United States Steel from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. StockNews.com initiated coverage on United States Steel in a report on Saturday, April 13th. They issued a “hold” rating for the company. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 9th. Finally, BMO Capital Markets decreased their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.89.

United States Steel Stock Down 2.9 %

X stock opened at $39.12 on Wednesday. The company’s 50 day moving average price is $43.56 and its 200 day moving average price is $41.15. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 11.15 and a beta of 2.00. United States Steel has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76.

Hedge Funds Weigh In On United States Steel

Several hedge funds and other institutional investors have recently bought and sold shares of X. Third Point LLC purchased a new position in United States Steel in the 3rd quarter valued at about $154,280,000. Norges Bank acquired a new position in shares of United States Steel in the 4th quarter valued at about $200,952,000. First Trust Advisors LP increased its position in United States Steel by 155.8% during the 1st quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock worth $124,913,000 after purchasing an additional 2,015,980 shares in the last quarter. KRYGER CAPITAL Ltd purchased a new position in United States Steel in the fourth quarter valued at approximately $95,529,000. Finally, Laurion Capital Management LP acquired a new position in United States Steel during the third quarter valued at approximately $50,912,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. United States Steel’s payout ratio is 5.70%.

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.