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

United States Steel Co. (NYSE:XGet Rating) – Equities researchers at KeyCorp reduced their Q3 2022 EPS estimates for shares of United States Steel in a research note issued on Thursday, May 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $3.00 per share 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.

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

X has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on shares of United States Steel from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, March 24th. The Goldman Sachs Group raised their price target on shares of United States Steel from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Tuesday, March 22nd. Zacks Investment Research raised shares of United States Steel from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Thursday, May 19th. Morgan Stanley raised shares of United States Steel from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $21.00 to $31.00 in a research note on Sunday, March 6th. Finally, StockNews.com raised shares of United States Steel from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.44.

Shares of NYSE:X opened at $25.06 on Monday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.90 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $32.45 and a 200 day simple 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Monday, May 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, May 6th. United States Steel’s dividend payout ratio is currently 1.16%.

In other news, CAO Manpreet Grewal sold 1,359 shares of United States Steel stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $37.71, for a total transaction of $51,247.89. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $1,104,299.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott D. Buckiso sold 10,300 shares of the business’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $35.00, for a total transaction of $360,500.00. The disclosure for this sale can be found here. Insiders have sold 195,343 shares of company stock valued at $6,804,448 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of United States Steel by 318.4% in the third quarter. Wellington Management Group LLP now owns 255,379 shares of the basic materials company’s stock valued at $5,611,000 after purchasing an additional 194,346 shares during the period. Cannell & Co. purchased a new position in United States Steel in the 4th quarter worth approximately $633,000. Main Street Financial Solutions LLC grew its stake in United States Steel by 5.4% in the 4th quarter. Main Street Financial Solutions LLC now owns 9,739 shares of the basic materials company’s stock worth $232,000 after buying an additional 500 shares in the last quarter. Gendell Jeffrey L grew its stake in United States Steel by 271.0% in the 3rd quarter. Gendell Jeffrey L now owns 3,891,139 shares of the basic materials company’s stock worth $85,488,000 after buying an additional 2,842,420 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in United States Steel by 23.6% in the 4th quarter. South Dakota Investment Council now owns 357,310 shares of the basic materials company’s stock worth $8,508,000 after buying an additional 68,220 shares in the last quarter. 72.56% of the stock is currently owned by institutional investors and hedge funds.

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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