United States Steel Co. (X) to Issue Quarterly Dividend of $0.05 on June 12th

United States Steel Co. (NYSE:X) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Monday, May 13th will be given 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 dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, May 10th.

United States Steel has increased its dividend by an average of 71.0% per year over the last three years. United States Steel has a payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

X stock opened at $38.13 on Wednesday. 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 firm’s fifty day moving average is $41.11 and its 200 day moving average is $41.66. The firm has a market cap of $8.57 billion, a P/E ratio of 11.18 and a beta of 2.06. United States Steel has a 52 week low of $20.40 and a 52 week high of $50.20.

Wall Street Analysts Forecast Growth

A number of research firms have commented on X. JPMorgan Chase & Co. cut their target price on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. StockNews.com started coverage on shares of United States Steel in a research note on Tuesday. They issued a “hold” rating on the stock. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 9th. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $51.00 to $48.00 in a report on Monday. Finally, BMO Capital Markets reduced their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.

United States Steel Company Profile

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.