United States Steel (NYSE:X) Issues Q1 2023 Earnings Guidance

United States Steel (NYSE:X – Get Rating) updated its first quarter 2023 earnings guidance on Thursday. The company provided EPS guidance of $0.58-$0.63 for the period, compared to the consensus EPS estimate of $0.41. The company issued revenue guidance of -. United States Steel also updated its Q1 guidance to $0.58-0.63 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of United States Steel from $20.00 to $31.00 and gave the stock an equal weight rating in a report on Wednesday, February 8th. BMO Capital Markets raised their price target on shares of United States Steel from $25.00 to $33.00 and gave the stock a market perform rating in a research note on Monday, February 6th. StockNews.com assumed coverage on shares of United States Steel in a research note on Thursday. They issued a hold rating on the stock. The Goldman Sachs Group raised their price target on shares of United States Steel from $23.00 to $26.00 and gave the stock a sell rating in a research note on Monday, February 6th. Finally, Bank of America assumed coverage on shares of United States Steel in a research note on Wednesday, January 4th. They issued an underperform rating on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $29.29.

United States Steel Trading Down 2.2 %

NYSE X opened at $23.97 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 1.99. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 2.67 and a beta of 2.20. The company’s 50-day simple moving average is $28.42 and its two-hundred day simple moving average is $24.71. United States Steel has a one year low of $16.41 and a one year high of $39.25.

United States Steel (NYSE:X – Get Rating) last posted its earnings results on Friday, February 3rd. The basic materials company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.27. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a net margin of 11.98% and a return on equity of 26.75%. The company’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.64 EPS. Equities analysts forecast that United States Steel will post 2.07 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, February 10th. United States Steel’s dividend payout ratio (DPR) is 2.23%.

Insider Buying and Selling at United States Steel

In other United States Steel news, Director Andrea J. Ayers bought 1,000 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were acquired at an average price of $31.45 per share, with a total value of $31,450.00. Following the transaction, the director now owns 5,014 shares of the company’s stock, valued at approximately $157,690.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Richard Fruehauf sold 37,500 shares of United States Steel stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $31.38, for a total value of $1,176,750.00. Following the transaction, the senior vice president now owns 57,826 shares of the company’s stock, valued at approximately $1,814,579.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea J. Ayers acquired 1,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was purchased at an average cost of $31.45 per share, for a total transaction of $31,450.00. Following the transaction, the director now owns 5,014 shares in the company, valued at $157,690.30. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of X. ICA Group Wealth Management LLC acquired a new stake in United States Steel in the 4th quarter worth approximately $28,000. Money Concepts Capital Corp acquired a new stake in United States Steel during the 4th quarter valued at approximately $51,000. Northwestern Mutual Wealth Management Co. lifted its stake in United States Steel by 24.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 592 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in United States Steel by 48.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,451 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 3,406 shares during the period. Finally, Cetera Advisor Networks LLC acquired a new stake in United States Steel during the 4th quarter valued at approximately $202,000. Hedge funds and other institutional investors own 75.02% of the company’s stock.

About United States Steel

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United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.