Zacks Research Weighs in on United States Steel Co.’s FY2024 Earnings (NYSE:X)

United States Steel Co. (NYSE:X) – Analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of United States Steel in a research note issued to investors on Monday, April 15th. Zacks Research analyst A. Barman now forecasts that the basic materials company will post earnings per share of $2.64 for the year, down from their previous forecast of $2.79. 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 Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $3.36 EPS.

X has been the topic of several other reports. StockNews.com started coverage on United States Steel in a research report on Saturday, April 13th. They set a “hold” rating on the stock. Morgan Stanley downgraded shares of United States Steel from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. assumed coverage on shares of United States Steel in a research report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective for the company. BMO Capital Markets decreased their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. Finally, Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.89.

United States Steel Price Performance

NYSE:X opened at $39.12 on Wednesday. The firm has a market cap of $8.79 billion, a PE ratio of 11.15 and a beta of 2.00. The company’s 50-day moving average price is $43.56 and its two-hundred day moving average price is $41.15. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. United States Steel has a 12 month low of $20.40 and a 12 month high of $50.20.

United States Steel (NYSE:X) last issued its earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.21 by $0.46. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in X. SummerHaven Investment Management LLC increased 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 purchasing an additional 278 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of United States Steel by 4.6% in the 4th 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 during the period. Parallel Advisors LLC increased its position in shares of United States Steel by 28.7% in the 4th quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after buying an additional 304 shares in the last quarter. 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 worth $1,064,000 after buying an additional 307 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in United States Steel by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 313 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were paid a $0.05 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. United States Steel’s payout ratio is presently 5.70%.

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.