United States Steel (NYSE:X) Releases Q3 2024 Earnings Guidance

United States Steel (NYSE:X) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.440-0.480 for the period, compared to the consensus estimate of 0.390. The company issued revenue guidance of -. United States Steel also updated its Q3 guidance to $0.44-0.48 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Glj Research upgraded shares of United States Steel from a sell rating to a buy rating and set a $38.57 target price on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of United States Steel from a neutral rating to an overweight rating and lifted their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. BNP Paribas upgraded shares of United States Steel from a neutral rating to an outperform rating and set a $40.00 target price on the stock in a report on Friday, September 6th. Jefferies Financial Group dropped their price objective on shares of United States Steel from $47.00 to $41.00 and set a buy rating on the stock in a report on Thursday, September 5th. Finally, BMO Capital Markets upgraded shares of United States Steel from a market perform rating to an outperform rating and boosted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, United States Steel currently has an average rating of Moderate Buy and an average price target of $39.76.

United States Steel Price Performance

Shares of United States Steel stock opened at $38.07 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. The firm’s 50-day simple moving average is $38.09 and its 200-day simple moving average is $38.76. United States Steel has a twelve month low of $26.92 and a twelve month high of $50.20. The firm has a market cap of $8.56 billion, a P/E ratio of 11.16 and a beta of 1.88.

United States Steel (NYSE:X) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business earned $1.92 EPS. The firm’s revenue was down 17.8% on a year-over-year basis. As a group, research analysts expect that United States Steel will post 2.15 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is currently 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.