United States Steel (NYSE:X) Releases Q1 2023 Earnings Guidance

United States Steel (NYSE:X – Get Rating) updated its first quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.58-$0.63 for the period, compared to the consensus estimate of $0.41. The company issued revenue guidance of -. United States Steel also updated its Q1 guidance to $0.58-0.63 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on X. Morgan Stanley boosted their target price on United States Steel from $20.00 to $31.00 and gave the stock an equal weight rating in a report on Wednesday, February 8th. The Goldman Sachs Group lifted their price target on shares of United States Steel from $23.00 to $26.00 and gave the company a sell rating in a research report on Monday, February 6th. Bank of America initiated coverage on shares of United States Steel in a research report on Wednesday, January 4th. They set an underperform rating on the stock. BMO Capital Markets lifted their price target on shares of United States Steel from $25.00 to $33.00 and gave the company a market perform rating in a research report on Monday, February 6th. Finally, StockNews.com initiated coverage on shares of United States Steel in a research report on Thursday. They set a hold rating on the stock. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, United States Steel currently has a consensus rating of Hold and a consensus price target of $29.29.

United States Steel Stock Down 2.2 %

Shares of NYSE X opened at $23.97 on Friday. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 2.67 and a beta of 2.20. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.38. United States Steel has a 52-week low of $16.41 and a 52-week high of $39.25. The business’s 50 day moving average is $28.42 and its two-hundred day moving average is $24.71.

United States Steel (NYSE:X – Get Rating) last announced its earnings results on Friday, February 3rd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.27. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a return on equity of 26.75% and a net margin of 11.98%. The firm’s quarterly revenue was down 22.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.64 earnings per share. Research analysts predict that United States Steel will post 2.07 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 13th were paid a $0.05 dividend. The ex-dividend date was Friday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.83%. United States Steel’s dividend payout ratio (DPR) is 2.23%.

Insiders Place Their Bets

In other United States Steel news, Director Andrea J. Ayers purchased 1,000 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was acquired at an average price of $31.45 per share, for a total transaction of $31,450.00. Following the completion of the purchase, the director now directly owns 5,014 shares in the company, valued at approximately $157,690.30. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Kenneth E. Jaycox sold 6,090 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $30.00, for a total transaction of $182,700.00. Following the completion of the transaction, the senior vice president now owns 79,637 shares in the company, valued at $2,389,110. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrea J. Ayers bought 1,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were purchased at an average price of $31.45 per share, with a total value of $31,450.00. Following the purchase, the director now owns 5,014 shares of the company’s stock, valued at approximately $157,690.30. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On United States Steel

A number of institutional investors and hedge funds have recently modified their holdings of X. Northwestern Mutual Wealth Management Co. boosted its stake in United States Steel by 24.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 592 shares in the last quarter. Truist Financial Corp boosted its stake in United States Steel by 21.7% in the fourth quarter. Truist Financial Corp now owns 15,549 shares of the basic materials company’s stock valued at $390,000 after acquiring an additional 2,776 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in United States Steel in the fourth quarter valued at $418,000. Harbour Investments Inc. boosted its stake in United States Steel by 4.5% in the fourth quarter. Harbour Investments Inc. now owns 18,294 shares of the basic materials company’s stock valued at $458,000 after acquiring an additional 793 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in United States Steel by 0.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 118,989 shares of the basic materials company’s stock valued at $2,981,000 after acquiring an additional 1,026 shares in the last quarter. Institutional investors and hedge funds own 75.02% of the company’s stock.

About United States Steel

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United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.