United States Steel (NYSE:X) Releases Q2 2022 Earnings Guidance

United States Steel (NYSE:XGet Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.83-$3.88 for the period, compared to the consensus earnings per share estimate of $3.20. The company issued revenue guidance of -.

Shares of X opened at $19.07 on Thursday. The business’s 50-day moving average is $26.72 and its two-hundred day moving average is $26.99. The company has a market capitalization of $4.97 billion, a P/E ratio of 1.10 and a beta of 2.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.90. United States Steel has a fifty-two week low of $17.98 and a fifty-two week high of $39.25.

United States Steel (NYSE:XGet Rating) last posted its 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. United States Steel had a net margin of 23.01% and a return on equity of 54.02%. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the company posted $1.08 EPS. The company’s revenue for the quarter was up 42.8% on a year-over-year basis. Analysts forecast that United States Steel will post 10.98 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Monday, May 9th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, May 6th. United States Steel’s dividend payout ratio is presently 1.16%.

X has been the topic of a number of research reports. UBS Group set a $23.00 target price on shares of United States Steel in a research note on Monday. Credit Suisse Group decreased their target price on shares of United States Steel from $49.00 to $44.00 and set an outperform rating on the stock in a research note on Friday, June 17th. BMO Capital Markets decreased their target price on shares of United States Steel from $30.00 to $23.00 in a research note on Friday, June 17th. Morgan Stanley raised shares of United States Steel from an underweight rating to an equal weight rating and raised their target price for the stock 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 analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $30.00.

In other news, CAO Manpreet Grewal sold 1,359 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $37.71, for a total value of $51,247.89. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $1,104,299.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Duane D. Holloway sold 40,346 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $37.71, for a total transaction of $1,521,447.66. Following the sale, the senior vice president now directly owns 72,419 shares of the company’s stock, valued at $2,730,920.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,344 shares of company stock worth $4,252,827. Company insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of X. First Trust Advisors LP lifted its position in shares of United States Steel by 155.8% in the 1st quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock worth $124,913,000 after buying an additional 2,015,980 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of United States Steel by 100.0% in the 1st quarter. Prudential Financial Inc. now owns 551,403 shares of the basic materials company’s stock worth $20,810,000 after buying an additional 275,688 shares during the last quarter. Bornite Capital Management LP lifted its position in shares of United States Steel by 300.0% in the 1st quarter. Bornite Capital Management LP now owns 400,000 shares of the basic materials company’s stock worth $15,096,000 after buying an additional 300,000 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of United States Steel by 6.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 151,647 shares of the basic materials company’s stock worth $5,891,000 after buying an additional 8,560 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of United States Steel by 28.0% in the 1st quarter. Guggenheim Capital LLC now owns 68,467 shares of the basic materials company’s stock worth $2,584,000 after buying an additional 14,984 shares during the last quarter. 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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