United States Steel (NYSE:X) Issues Q2 2024 Earnings Guidance

United States Steel (NYSE:X) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.780-0.780 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of -.

United States Steel Price Performance

NYSE X traded down $0.67 during trading hours on Tuesday, reaching $36.20. 376,629 shares of the company’s stock were exchanged, compared to its average volume of 4,018,750. The firm has a fifty day moving average of $37.96 and a 200-day moving average of $42.32. United States Steel has a one year low of $22.26 and a one year high of $50.20. The stock has a market cap of $8.14 billion, a PE ratio of 10.91 and a beta of 2.00. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.22 billion. On average, equities research analysts predict that United States Steel will post 2.72 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 13th were given a $0.05 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. United States Steel’s payout ratio is 5.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on X shares. Wolfe Research raised 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. Jefferies Financial Group began coverage on United States Steel in a research note on Monday, May 20th. They issued a buy rating and a $45.00 price target for the company. StockNews.com initiated coverage on shares of United States Steel in a research note on Sunday. They set a hold rating on the stock. Morgan Stanley upgraded shares of United States Steel from an equal weight rating to an overweight rating and cut their target price for the stock from $51.00 to $48.00 in a report on Monday, May 6th. Finally, BMO Capital Markets decreased their price target on shares of 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. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $38.78.

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.