United States Steel (NYSE:X) Updates Q1 Earnings Guidance

United States Steel (NYSE:X – Get Rating) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.58-0.63 for the period, compared to the consensus earnings per share estimate of $0.22. United States Steel also updated its Q1 2023 guidance to $0.58-$0.63 EPS.

Analysts Set New Price Targets

X has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of United States Steel from $25.00 to $33.00 and gave the stock a market perform rating in a research note on Monday, February 6th. Morgan Stanley lifted their price target on shares of United States Steel from $20.00 to $31.00 and gave the stock an equal weight rating in a research note on Wednesday, February 8th. StockNews.com initiated coverage on shares of United States Steel in a research note on Thursday. They set a hold rating for the company. Bank of America began coverage on shares of United States Steel in a research note on Wednesday, January 4th. They set an underperform rating for the company. Finally, The Goldman Sachs Group boosted their price objective 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. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $29.29.

United States Steel Stock Down 2.2 %

X stock opened at $23.97 on Friday. The firm’s fifty day simple moving average is $28.42 and its 200-day simple moving average is $24.71. The company has a market capitalization of $5.45 billion, a P/E ratio of 2.67 and a beta of 2.20. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.99 and a quick ratio of 1.39. United States Steel has a 12 month low of $16.41 and a 12 month high of $39.25.

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

United States Steel Dividend Announcement

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

Insider Activity

In related news, SVP Kenneth E. Jaycox sold 6,090 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 79,637 shares in the company, valued at $2,389,110. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Richard Fruehauf sold 37,500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $31.38, for a total value of $1,176,750.00. Following the completion of the transaction, the senior vice president now owns 57,826 shares of the company’s stock, valued at $1,814,579.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth E. Jaycox sold 6,090 shares of the firm’s stock in a transaction that occurred 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 directly owns 79,637 shares of the company’s stock, valued at approximately $2,389,110. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On United States Steel

A number of hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC purchased a new position in United States Steel during the 4th quarter valued at about $28,000. Money Concepts Capital Corp acquired a new stake in United States Steel in the 4th quarter worth approximately $51,000. Northwestern Mutual Wealth Management Co. lifted its holdings in United States Steel by 24.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 592 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in United States Steel by 48.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,451 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 3,406 shares during the last quarter. Finally, Cetera Advisor Networks LLC acquired a new stake in United States Steel in the 4th quarter worth approximately $202,000. 75.02% of the stock is currently owned by institutional investors.

United States Steel Company Profile

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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.