Analysts’ Weekly Ratings Changes for United States Steel (X)

Several analysts have recently updated their ratings and price targets for United States Steel (NYSE: X):

• 8/19/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/15/2024 – United States Steel had its price target raised by analysts at Morgan Stanley from $48.00 to $49.00. They now have an “overweight” rating on the stock.
• 8/11/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/3/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/26/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/18/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/16/2024 – United States Steel had its price target lowered by analysts at JPMorgan Chase & Co. from $43.00 to $40.00. They now have a “neutral” rating on the stock.
• 7/10/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/2/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 6/26/2024 – United States Steel was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $45.00 price target on the stock, up previously from $43.00.
• 6/24/2024 – United States Steel is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

United States Steel Stock Performance

X stock traded down $0.73 during midday trading on Tuesday, hitting $38.57. The stock had a trading volume of 2,267,593 shares, compared to its average volume of 3,689,837. United States Steel Co. has a 52 week low of $29.84 and a 52 week high of $50.20. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $38.94 and a 200 day simple moving average of $40.37. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 11.31 and a beta of 1.93.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The company’s quarterly revenue was down 17.8% on a year-over-year basis. As a group, equities research analysts anticipate that United States Steel Co. will post 2.38 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, August 12th. This represents a $0.20 annualized dividend and a yield of 0.52%. United States Steel’s dividend payout ratio is 5.87%.

Institutional Investors Weigh In On United States Steel

Large investors have recently bought and sold shares of the business. Third Point LLC increased its holdings in shares of United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after purchasing an additional 750,000 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of United States Steel by 11.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after purchasing an additional 447,186 shares in the last quarter. Norges Bank acquired a new position in shares of United States Steel in the 4th quarter valued at $200,952,000. Massachusetts Financial Services Co. MA increased its position in shares of United States Steel by 4,305.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after buying an additional 3,551,870 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its holdings in shares of United States Steel by 13.5% in the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock worth $100,848,000 after acquiring an additional 316,800 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.