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

United States Steel Co. (NYSE:X) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.05 per share by the basic materials company on Wednesday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, May 10th.

United States Steel has raised its dividend by an average of 71.0% annually over the last three years. United States Steel has a payout ratio of 6.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United States Steel to earn $3.79 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 5.3%.

United States Steel Stock Performance

Shares of X stock opened at $38.36 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. The stock has a market cap of $8.63 billion, a PE ratio of 11.25 and a beta of 2.06. United States Steel has a 1 year low of $20.40 and a 1 year high of $50.20. The stock has a fifty day moving average price of $40.92 and a 200 day moving average price of $41.64.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of United States Steel in a report on Tuesday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. BMO Capital Markets cut their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, March 19th. Wolfe Research raised shares of 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. Finally, Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $51.00 to $48.00 in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.00.

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.