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

United States Steel Co. (NYSE:X) – Investment analysts at Zacks Research raised their Q2 2024 EPS estimates for United States Steel in a report issued on Tuesday, July 23rd. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings of $0.72 per share for the quarter, up from their previous forecast 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.

Several other equities analysts have also commented on X. Jefferies Financial Group started coverage on United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 price objective for the company. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $51.00 to $48.00 in a research report on Monday, May 6th. StockNews.com started coverage on United States Steel in a research report on Friday. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their price objective on United States Steel from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, 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 report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.00.

United States Steel Stock Performance

NYSE:X opened at $40.72 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The stock has a market cap of $9.16 billion, a P/E ratio of 11.94 and a beta of 1.93. The firm’s fifty day simple moving average is $37.80 and its 200 day simple moving average is $41.24. United States Steel has a twelve month low of $22.26 and a twelve month high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings results 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. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%.

Hedge Funds Weigh In On United States Steel

Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its position in United States Steel by 308.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock worth $16,127,000 after buying an additional 250,311 shares during the last quarter. Pacer Advisors Inc. raised its position in United States Steel by 77.0% in the 4th quarter. Pacer Advisors Inc. now owns 33,111 shares of the basic materials company’s stock worth $1,611,000 after buying an additional 14,405 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in United States Steel by 16.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 7,670 shares of the basic materials company’s stock worth $373,000 after buying an additional 1,070 shares during the last quarter. JB Capital LLC purchased a new position in United States Steel in the 4th quarter worth about $221,000. Finally, Oak Thistle LLC purchased a new position in United States Steel in the 4th quarter worth about $560,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio is presently 5.87%.

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.