United States Steel Co. to Post Q3 2022 Earnings of $3.00 Per Share, KeyCorp Forecasts (NYSE:X)

United States Steel Co. (NYSE:XGet Rating) – Stock analysts at KeyCorp lowered their Q3 2022 earnings estimates for shares of United States Steel in a report issued on Thursday, May 19th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $3.00 for the quarter, down from their prior forecast of $3.07. KeyCorp also issued estimates for United States Steel’s FY2022 earnings at $10.20 EPS.

X has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on United States Steel from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Tuesday, March 22nd. StockNews.com raised United States Steel from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Zacks Investment Research raised United States Steel from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a report on Thursday. JPMorgan Chase & Co. increased their price objective on United States Steel from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, March 24th. Finally, Morgan Stanley upgraded United States Steel from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $21.00 to $31.00 in a research report on Sunday, March 6th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, United States Steel currently has a consensus rating of “Hold” and a consensus target price of $31.44.

Shares of X opened at $23.79 on Monday. The stock has a 50-day moving average of $32.59 and a two-hundred day moving average of $27.28. United States Steel has a one year low of $17.98 and a one year high of $39.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.90. The stock has a market cap of $6.20 billion, a P/E ratio of 1.38 and a beta of 2.00.

United States Steel (NYSE:XGet Rating) last released its quarterly earnings data on Thursday, April 28th. The basic materials company reported $3.05 EPS for the quarter, topping the consensus estimate of $3.00 by $0.05. United States Steel had a return on equity of 54.02% and a net margin of 23.01%. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period last year, the business posted $1.08 EPS. United States Steel’s quarterly revenue was up 42.8% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Monday, May 9th will be given a $0.05 dividend. The ex-dividend date is Friday, May 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.84%. United States Steel’s payout ratio is currently 1.16%.

In other news, SVP Scott D. Buckiso sold 10,300 shares of United States Steel stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $35.00, for a total transaction of $360,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James E. Bruno sold 71,699 shares of the business’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $30.56, for a total transaction of $2,191,121.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,343 shares of company stock valued at $6,804,448. 1.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in X. North Star Investment Management Corp. raised its holdings in United States Steel by 2,000.0% in the 4th quarter. North Star Investment Management Corp. now owns 1,050 shares of the basic materials company’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. Byrne Asset Management LLC bought a new stake in United States Steel in the 4th quarter valued at about $26,000. Rational Advisors LLC bought a new stake in United States Steel in the 4th quarter valued at about $27,000. Moors & Cabot Inc. purchased a new position in United States Steel during the 3rd quarter valued at about $30,000. Finally, Norwood Financial Corp purchased a new position in shares of United States Steel during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 72.56% of the company’s stock.

About United States Steel (Get Rating)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.

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Earnings History and Estimates for United States Steel (NYSE:X)

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