United States Steel Co. Announces Quarterly Dividend of $0.05 (NYSE:X)

United States Steel Co. (NYSE:X) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Shareholders of record on Monday, August 12th will be paid a dividend of 0.05 per share by the basic materials company on Wednesday, September 11th. This represents a $0.20 annualized dividend and a yield of 0.49%.

United States Steel has increased its dividend by an average of 71.0% annually over the last three years. United States Steel has a payout ratio of 6.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect United States Steel to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.1%.

United States Steel Price Performance

X traded down $0.45 during midday trading on Thursday, hitting $40.65. The stock had a trading volume of 3,390,959 shares, compared to its average volume of 3,770,639. The company has a market cap of $9.14 billion, a P/E ratio of 12.01 and a beta of 1.93. The business has a fifty day moving average of $38.06 and a 200 day moving average of $41.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. United States Steel has a 1 year low of $22.26 and a 1 year high of $50.20.

United States Steel (NYSE:X) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. As a group, equities analysts forecast that United States Steel will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on X. StockNews.com began coverage on United States Steel in a research note on Friday, July 26th. They set a “hold” rating for the company. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Jefferies Financial Group began coverage on United States Steel in a research note 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 dropped their price objective for the company from $51.00 to $48.00 in a research note on Monday, May 6th. 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 note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.00.

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.