Q2 2024 EPS Estimates for United States Steel Co. Boosted by Analyst (NYSE:X)

United States Steel Co. (NYSE:X) – Equities research analysts at Zacks Research raised their Q2 2024 EPS estimates for shares of United States Steel in a note issued to investors on Tuesday, July 23rd. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings of $0.72 per share for the quarter, up from their previous estimate of $0.70. The consensus estimate for United States Steel’s current full-year earnings is $2.38 per share. Zacks Research also issued estimates for United States Steel’s Q3 2024 earnings at $0.47 EPS, Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $2.33 EPS, Q1 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.74 EPS and FY2025 earnings at $2.78 EPS.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $51.00 to $48.00 in a report on Monday, May 6th. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, April 9th. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. StockNews.com started coverage on shares of United States Steel in a research note on Friday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.00.

United States Steel Trading Up 0.2 %

X opened at $40.72 on Thursday. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 11.94 and a beta of 1.93. The company’s 50 day moving average price is $37.80 and its two-hundred day moving average price is $41.24.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, May 10th. This represents a $0.20 annualized dividend and a yield of 0.49%. United States Steel’s payout ratio is 5.87%.

Institutional Trading of United States Steel

Institutional investors have recently made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of United States Steel in the 4th quarter worth $25,000. Byrne Asset Management LLC grew its stake in shares of United States Steel by 1,140.0% in the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 570 shares in the last quarter. GAMMA Investing LLC bought a new position in United States Steel during the fourth quarter valued at about $33,000. Riverview Trust Co bought a new position in United States Steel during the first quarter valued at about $29,000. Finally, Pineridge Advisors LLC bought a new position in United States Steel during the fourth quarter valued at about $44,000. 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.