United States Steel Co. Expected to Post Q1 2024 Earnings of $0.10 Per Share (NYSE:X)

United States Steel Co. (NYSE:X) – Stock analysts at Zacks Research reduced their Q1 2024 earnings estimates for United States Steel in a research report issued on Monday, September 4th. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings of $0.10 per share for the quarter, down from their prior estimate of $0.18. The consensus estimate for United States Steel’s current full-year earnings is $3.96 per share. Zacks Research also issued estimates for United States Steel’s FY2024 earnings at $1.60 EPS and Q1 2025 earnings at $0.47 EPS.

Several other research firms have also recently weighed in on X. JPMorgan Chase & Co. decreased their target price on shares of United States Steel from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, July 14th. Morgan Stanley reiterated an “equal weight” rating and issued a $25.00 target price on shares of United States Steel in a research report on Tuesday, August 1st. Wolfe Research cut United States Steel from a “peer perform” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Thursday, June 1st. StockNews.com initiated coverage on United States Steel in a research note on Saturday, September 2nd. They issued a “hold” rating on the stock. Finally, BNP Paribas downgraded United States Steel from an “outperform” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

United States Steel Stock Performance

United States Steel stock opened at $30.82 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.30 and a debt-to-equity ratio of 0.38. United States Steel has a 1 year low of $17.89 and a 1 year high of $32.52. The company has a market cap of $6.87 billion, a PE ratio of 5.93 and a beta of 2.14. The company’s 50-day moving average is $26.95 and its two-hundred day moving average is $25.39.

United States Steel (NYSE:X) last released its earnings results on Friday, July 28th. The basic materials company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.86 by $0.06. United States Steel had a net margin of 7.05% and a return on equity of 13.51%. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the company earned $3.86 EPS. The business’s quarterly revenue was down 20.4% compared to the same quarter last year.

Institutional Investors Weigh In On United States Steel

Institutional investors have recently modified their holdings of the company. New Mexico Educational Retirement Board grew its position in shares of United States Steel by 3.4% in the first quarter. New Mexico Educational Retirement Board now owns 42,400 shares of the basic materials company’s stock valued at $1,107,000 after purchasing an additional 1,400 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of United States Steel by 385.8% in the 4th quarter. Integrated Wealth Concepts LLC now owns 66,551 shares of the basic materials company’s stock valued at $1,667,000 after acquiring an additional 52,853 shares during the period. Qsemble Capital Management LP purchased a new position in shares of United States Steel in the 4th quarter valued at $498,000. Amalgamated Bank raised its stake in shares of United States Steel by 22.7% in the 4th quarter. Amalgamated Bank now owns 210,185 shares of the basic materials company’s stock valued at $5,265,000 after acquiring an additional 38,904 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of United States Steel by 2.9% in the 1st quarter. Treasurer of the State of North Carolina now owns 109,833 shares of the basic materials company’s stock valued at $2,867,000 after acquiring an additional 3,142 shares during the period. 74.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at United States Steel

In other United States Steel news, SVP Kenneth E. Jaycox sold 10,756 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $30.75, for a total transaction of $330,747.00. Following the completion of the sale, the senior vice president now owns 85,480 shares in the company, valued at $2,628,510. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Kenneth E. Jaycox sold 10,756 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $30.75, for a total transaction of $330,747.00. Following the sale, the senior vice president now directly owns 85,480 shares of the company’s stock, valued at approximately $2,628,510. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Duane D. Holloway sold 23,406 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $31.00, for a total transaction of $725,586.00. Following the completion of the transaction, the senior vice president now directly owns 105,800 shares in the company, valued at $3,279,800. The disclosure for this sale can be found here. Insiders sold 101,944 shares of company stock worth $3,217,822 over the last 90 days. Company insiders own 0.98% of the company’s stock.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 7th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.20 annualized dividend and a yield of 0.65%. United States Steel’s payout ratio is currently 3.85%.

About United States Steel

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.