United States Steel (NYSE:X) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

United States Steel (NYSE:X) released its quarterly earnings data on Thursday. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12, Briefing.com reports. United States Steel had a net margin of 3.40% and a return on equity of 7.98%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business earned $1.92 EPS. United States Steel’s quarterly revenue was down 17.8% compared to the same quarter last year.

United States Steel Stock Performance

Shares of X traded down $0.37 during trading hours on Friday, reaching $40.29. 3,042,898 shares of the company traded hands, compared to its average volume of 2,476,965. The stock has a market cap of $9.06 billion, a P/E ratio of 11.82 and a beta of 1.93. The stock’s fifty day moving average is $38.25 and its 200 day moving average is $40.95. United States Steel has a 1-year low of $22.26 and a 1-year high of $50.20. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, August 12th. United States Steel’s dividend payout ratio is currently 5.87%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 price objective for the company. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. JPMorgan Chase & Co. cut their target price on shares of 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. StockNews.com began coverage on shares of United States Steel in a research report on Saturday. They set a “hold” rating for the company. Finally, Morgan Stanley raised 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 research report on Monday, May 6th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, United States Steel presently has a consensus rating of “Hold” and a consensus price target of $40.00.

United States Steel Company Profile

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.