Zacks Research Research Analysts Lower Earnings Estimates for United States Steel Co. (NYSE:X)

United States Steel Co. (NYSE:X) – Investment analysts at Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for shares of United States Steel in a research note issued to investors on Monday, April 15th. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings per share of $0.77 for the quarter, down from their prior estimate of $0.88. The consensus estimate for United States Steel’s current full-year earnings is $3.17 per share. Zacks Research also issued estimates for United States Steel’s Q4 2024 earnings at $0.57 EPS and Q1 2025 earnings at $0.80 EPS.

United States Steel (NYSE:X) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.21 by $0.46. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS.

Several other equities analysts have also recently commented on X. BMO Capital Markets decreased their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. StockNews.com started coverage on shares of United States Steel in a research note on Saturday, April 13th. They set a “hold” rating on the stock. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research note on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of United States Steel in a research report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Finally, Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel has a consensus rating of “Hold” and a consensus target price of $37.89.

United States Steel Stock Performance

NYSE X opened at $39.12 on Tuesday. The stock has a 50-day moving average of $43.56 and a two-hundred day moving average of $41.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20. The company has a market cap of $8.79 billion, a P/E ratio of 11.15 and a beta of 2.00.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s payout ratio is 5.70%.

Hedge Funds Weigh In On United States Steel

Several large investors have recently bought and sold shares of the stock. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of United States Steel during the fourth quarter worth approximately $25,000. Steward Partners Investment Advisory LLC increased its holdings in United States Steel by 103.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 618 shares of the basic materials company’s stock valued at $30,000 after buying an additional 314 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of United States Steel during the 4th quarter valued at approximately $33,000. Riverview Trust Co acquired a new position in United States Steel during the first quarter worth $29,000. Finally, Aspect Partners LLC purchased a new stake in shares of United States Steel in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.