United States Steel (NYSE:X) Updates Q3 2022 Earnings Guidance

United States Steel (NYSE:XGet Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $1.90-$1.95 for the period, compared to the consensus earnings per share estimate of $1.90. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Credit Suisse Group decreased their price objective on United States Steel from $44.00 to $37.00 and set an outperform rating on the stock in a report on Friday, September 16th. UBS Group set a $23.00 target price on United States Steel in a report on Monday, June 20th. StockNews.com downgraded United States Steel from a buy rating to a hold rating in a report on Friday, July 29th. JPMorgan Chase & Co. reduced their target price on United States Steel from $34.00 to $28.00 and set an underweight rating on the stock in a report on Tuesday, June 14th. Finally, Citigroup boosted their target price on United States Steel to $27.00 in a report on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $25.61.

United States Steel Trading Down 2.4 %

United States Steel stock opened at $19.85 on Thursday. United States Steel has a one year low of $16.41 and a one year high of $39.25. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 1.16 and a beta of 2.15. The firm has a 50-day moving average of $22.38 and a 200-day moving average of $26.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.32.

United States Steel (NYSE:XGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The basic materials company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.01. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $5.82 billion. United States Steel had a net margin of 21.59% and a return on equity of 49.21%. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the business posted $3.37 earnings per share. On average, equities analysts expect that United States Steel will post 9.92 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Monday, August 8th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.01%. United States Steel’s dividend payout ratio is presently 1.17%.

United States Steel declared that its Board of Directors has approved a stock buyback program on Thursday, July 28th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in X. Forum Financial Management LP bought a new position in United States Steel in the first quarter valued at approximately $206,000. Equitable Holdings Inc. bought a new position in United States Steel in the first quarter valued at approximately $222,000. Vanguard Personalized Indexing Management LLC increased its stake in United States Steel by 48.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,451 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 3,406 shares during the last quarter. Cetera Investment Advisers bought a new position in United States Steel in the first quarter valued at approximately $402,000. Finally, Natixis Advisors L.P. bought a new position in United States Steel in the first quarter valued at approximately $455,000. 79.08% of the stock is owned by institutional investors.

About United States Steel

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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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