Q1 2024 EPS Estimates for United States Steel Co. (NYSE:X) Decreased by Analyst

United States Steel Co. (NYSE:X) – Investment analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for United States Steel in a research note issued to investors on Monday, April 15th. Zacks Research analyst A. Barman now anticipates that the basic materials company will earn $0.77 per share for the quarter, down from their previous forecast 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.

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

United States Steel Price Performance

X stock opened at $39.12 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $43.56 and its two-hundred day moving average price is $41.15. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 11.15 and a beta of 2.00. United States Steel has a 12-month low of $20.40 and a 12-month high of $50.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Third Point LLC lifted its holdings in United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after purchasing an additional 750,000 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of United States Steel by 11.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after purchasing an additional 447,186 shares during the period. KGH Ltd boosted its stake in United States Steel by 7.5% during the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock worth $145,795,000 after buying an additional 315,000 shares during the period. Norges Bank bought a new position in United States Steel during the 4th quarter valued at about $200,952,000. Finally, First Trust Advisors LP grew its stake in shares of United States Steel by 155.8% during the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after buying an additional 2,015,980 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Dividend Announcement

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

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.