United States Steel Co. (NYSE:X) to Post Q1 2024 Earnings of $0.77 Per Share, Zacks Research Forecasts

United States Steel Co. (NYSE:X) – Stock analysts at Zacks Research cut their Q1 2024 earnings per share estimates for United States Steel in a report released on Monday, April 15th. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings of $0.77 per share for the quarter, down from their prior estimate 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.

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

United States Steel Stock Down 1.3 %

United States Steel stock opened at $40.29 on Tuesday. United States Steel has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76. The company has a market capitalization of $9.06 billion, a P/E ratio of 11.48 and a beta of 2.01. The stock has a 50-day simple moving average of $43.70 and a 200-day simple moving average of $41.16.

United States Steel (NYSE:X) last released its quarterly earnings data 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. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the firm posted $0.87 EPS. The business’s quarterly revenue was down 4.5% compared to the same quarter last year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, February 9th. United States Steel’s dividend payout ratio (DPR) is currently 5.70%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in X. SummerHaven Investment Management LLC boosted its stake in United States Steel by 0.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 29,928 shares of the basic materials company’s stock valued at $1,456,000 after acquiring an additional 278 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of United States Steel by 4.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,552 shares of the basic materials company’s stock valued at $318,000 after buying an additional 290 shares in the last quarter. Parallel Advisors LLC raised its stake in United States Steel by 28.7% during the 4th quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 304 shares during the period. D.A. Davidson & CO. raised its stake in United States Steel by 0.9% during the 3rd quarter. D.A. Davidson & CO. now owns 32,770 shares of the basic materials company’s stock valued at $1,064,000 after purchasing an additional 307 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in United States Steel by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 313 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.