United States Steel Co. (NYSE:X) Announces Quarterly Dividend of $0.05

United States Steel Co. (NYSE:X) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Investors of record on Monday, November 11th will be given a dividend of 0.05 per share by the basic materials company on Wednesday, December 11th. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 8th.

United States Steel has increased its dividend by an average of 71.0% annually over the last three years. United States Steel has a payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect United States Steel to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.8%.

United States Steel Stock Up 2.1 %

X stock opened at $39.08 on Wednesday. The stock has a 50-day simple moving average of $36.55 and a two-hundred day simple moving average of $37.68. United States Steel has a twelve month low of $26.92 and a twelve month high of $50.20. The firm has a market capitalization of $8.80 billion, a PE ratio of 25.71 and a beta of 1.86. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm earned $1.36 EPS. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, equities analysts predict that United States Steel will post 2.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on X shares. Morgan Stanley upped their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Jefferies Financial Group cut their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, BMO Capital Markets decreased their price objective on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, United States Steel has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel Company Profile

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.