United States Steel Co. (NYSE:X) Forecasted to Post Q2 2023 Earnings of $1.76 Per Share

United States Steel Co. (NYSE:X - Get Rating) - Investment analysts at Zacks Research increased their Q2 2023 earnings per share estimates for United States Steel in a report issued on Friday, June 2nd. Zacks Research analyst A. Barman now forecasts that the basic materials company will earn $1.76 per share for the quarter, up from their previous estimate of $1.75. The consensus estimate for United States Steel's current full-year earnings is $4.32 per share. Zacks Research also issued estimates for United States Steel's FY2023 earnings at $4.02 EPS, Q1 2025 earnings at $0.59 EPS and FY2025 earnings at $2.93 EPS.

United States Steel (NYSE:X - Get Rating) last announced its earnings results on Friday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.16. United States Steel had a return on equity of 19.66% and a net margin of 9.07%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the firm earned $3.05 EPS. United States Steel's revenue for the quarter was down 14.6% compared to the same quarter last year.

X has been the topic of several other reports. UBS Group reduced their target price on United States Steel from $27.00 to $25.00 in a report on Friday, May 5th. JPMorgan Chase & Co. initiated coverage on United States Steel in a research note on Tuesday, May 23rd. They set a "neutral" rating and a $24.00 target price for the company. The Goldman Sachs Group raised their target price on United States Steel from $23.00 to $26.00 and gave the company a "sell" rating in a report on Monday, February 6th. BMO Capital Markets dropped their price target on United States Steel from $30.00 to $27.00 in a report on Monday, May 1st. Finally, Wolfe Research lowered United States Steel from a "peer perform" rating to an "underperform" rating and set a $19.00 target price on the stock. in a research note on Thursday. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, United States Steel currently has an average rating of "Hold" and an average target price of $27.00.

NYSE:X opened at $21.95 on Monday. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 3.26 and a beta of 2.13. United States Steel has a twelve month low of $16.41 and a twelve month high of $31.55. The stock's 50 day moving average price is $23.45 and its two-hundred day moving average price is $25.82. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 0.38.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bornite Capital Management LP grew its stake in shares of United States Steel by 300.0% in the first quarter. Bornite Capital Management LP now owns 400,000 shares of the basic materials company's stock worth $15,096,000 after purchasing an additional 300,000 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in shares of United States Steel during the 1st quarter worth about $455,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in United States Steel in the 1st quarter valued at approximately $1,150,000. Great West Life Assurance Co. Can grew its holdings in United States Steel by 6.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 151,647 shares of the basic materials company's stock valued at $5,891,000 after buying an additional 8,560 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of United States Steel by 9.5% during the 1st quarter. Blair William & Co. IL now owns 60,133 shares of the basic materials company's stock worth $2,269,000 after purchasing an additional 5,217 shares in the last quarter. Institutional investors and hedge funds own 75.02% of the company's stock.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 7th. Investors of record on Monday, May 8th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 5th. This represents a $0.20 annualized dividend and a yield of 0.91%. United States Steel's dividend payout ratio (DPR) is 2.97%.

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.

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