Q1 2024 EPS Estimates for United States Steel Co. (NYSE:X) Reduced by Analyst

United States Steel Co. (NYSE:X) – Investment analysts at Zacks Research reduced their Q1 2024 EPS estimates for shares of United States Steel in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings per share of $0.77 for the quarter, down from their previous estimate of $0.88. 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 Q4 2024 earnings at $0.57 EPS and Q1 2025 earnings at $0.80 EPS.

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

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

United States Steel Price Performance

United States Steel stock opened at $40.29 on Tuesday. The firm has a 50-day moving average price of $43.70 and a 200-day moving average price of $41.16. The firm has a market capitalization of $9.06 billion, a PE ratio of 11.48 and a beta of 2.01. The company has a current ratio of 1.76, a quick ratio of 1.22 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in X. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of United States Steel in the 4th quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new position in United States Steel during the 4th quarter valued at about $28,000. Riverview Trust Co acquired a new position in United States Steel during the 1st quarter valued at about $29,000. Steward Partners Investment Advisory LLC grew its stake in shares of United States Steel by 103.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 618 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 314 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of United States Steel by 181.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 635 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, February 9th. United States Steel’s payout ratio is currently 5.70%.

About United States Steel

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.