United States Steel Updates Q1 Earnings Guidance

United States Steel Corporation (NYSE:X) provided an update on its earnings guidance for the first quarter of the year on Thursday. The company has revised its earnings per share (EPS) forecast to range from $(0.53) to $(0.49). This update is a notable shift from the consensus estimate, which previously anticipated an EPS of $(0.32).

Analyst Perspectives

Many analysts have recently discussed United States Steel in their reports. On March 11th, JPMorgan Chase & Co. raised their target price for United States Steel shares from $40.00 to $43.00 and assigned an "overweight" rating to the stock. Similarly, on March 7th, Morgan Stanley increased their price target from $39.00 to $43.00 and maintained an "equal weight" rating. On January 6th, Bank of America began coverage of United States Steel, giving it a "neutral" rating with a price target set at $35.00. Additionally, BMO Capital Markets lowered their price target from $43.00 to $40.00 while keeping an "outperform" rating on the stock. Jefferies Financial Group also adjusted their price target down from $45.00 to $40.00 but maintained a "buy" rating. Currently, three analysts have issued hold ratings, while six have rated the stock as a buy. According to MarketBeat.com, United States Steel holds a consensus rating of "Moderate Buy" with an average price target of $40.70.

Current Stock Performance

On Thursday, shares of United States Steel traded down by $0.55, reaching a price of $41.07. Approximately 6,123,538 shares were exchanged, a significant volume compared to the average of 4,926,034 shares. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 27.56, and a PEG ratio of 1.53. The stock has shown volatility with a beta of 1.86 and exhibits a debt-to-equity ratio of 0.36. Its quick ratio stands at 0.91, while the current ratio is 1.55. Moreover, United States Steel's stock has fluctuated with a low of $26.92 and a high of $43.35 over the past year.

Recent Earnings Results

United States Steel last reported earnings on January 30th, where it posted an EPS of $(0.18) for the quarter, which fell short of the consensus estimate of $0.20 by $0.38. The company reported a return on equity of 4.27% and a net margin of 2.46%. Analysts forecast that United States Steel will achieve an EPS of 1.43 for the current fiscal year.

Dividend Declaration

In addition to the earnings update, United States Steel declared a quarterly dividend, which was paid to shareholders on March 12th. The dividend was announced for stockholders of record as of February 10th, providing them with $0.05 per share. This dividend translates to an annualized payment of $0.20 and yields approximately 0.49%. The ex-dividend date was also February 10th, and the company’s current dividend payout ratio is 13.42%.

About United States Steel Corporation

United States Steel Corporation is engaged in the production and sale of flat-rolled and tubular steel products, primarily operating in North America and Europe. Its segments include North American Flat-Rolled, Mini Mill, U. S. Steel Europe, and Tubular Products, catering to different aspects of the steel market.

Earnings, Guidance, Stocks