United States Steel (NYSE:X – Get 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 stock opened at $18.07 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.90. The stock has a 50 day moving average price of $22.12 and a 200 day moving average price of $26.49. The firm has a market capitalization of $4.71 billion, a P/E ratio of 1.05 and a beta of 2.09. United States Steel has a 52-week low of $16.41 and a 52-week high of $39.25.
United States Steel (NYSE:X – Get Rating) last issued its earnings results on Thursday, April 28th. The basic materials company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.05. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.26 billion. United States Steel had a return on equity of 54.02% and a net margin of 23.01%. United States Steel’s revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. As a group, sell-side analysts forecast that United States Steel will post 12.12 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Monday, May 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Friday, May 6th. United States Steel’s dividend payout ratio (DPR) is presently 1.16%.
A number of research analysts have recently issued reports on the company. Morgan Stanley cut their price target on United States Steel from $27.00 to $20.00 and set an equal weight rating on the stock in a report on Wednesday, July 6th. JPMorgan Chase & Co. cut their price target 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. StockNews.com upgraded United States Steel from a hold rating to a buy rating in a report on Tuesday, May 17th. The Goldman Sachs Group cut their price target on United States Steel from $36.00 to $22.00 and set a sell rating on the stock in a report on Tuesday, May 31st. Finally, UBS Group set a $23.00 price target on United States Steel in a report on Monday, June 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, United States Steel presently has a consensus rating of Hold and a consensus target price of $28.90.
In other United States Steel news, CAO Manpreet Grewal sold 3,505 shares of the business’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $33.00, for a total transaction of $115,665.00. Following the sale, the chief accounting officer now owns 23,913 shares in the company, valued at approximately $789,129. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its holdings in shares of United States Steel by 155.8% during the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after acquiring an additional 2,015,980 shares during the last quarter. Bornite Capital Management LP raised its holdings in shares of United States Steel by 300.0% during the first quarter. Bornite Capital Management LP now owns 400,000 shares of the basic materials company’s stock valued at $15,096,000 after acquiring an additional 300,000 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of United States Steel by 100.0% during the first quarter. Prudential Financial Inc. now owns 551,403 shares of the basic materials company’s stock valued at $20,810,000 after acquiring an additional 275,688 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of United States Steel during the first quarter valued at approximately $2,185,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of United States Steel during the first quarter valued at approximately $1,753,000. Institutional investors and hedge funds own 72.56% of the company’s stock.
United States Steel Company Profile (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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