United States Steel (NYSE:X) Announces Earnings Results

United States Steel (NYSE:X) released its earnings results on Thursday. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15, Briefing.com reports. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 6.06% and a net margin of 2.41%. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share.

United States Steel Stock Performance

Shares of X stock traded down $0.22 on Friday, hitting $38.63. The company had a trading volume of 6,798,935 shares, compared to its average volume of 2,377,362. The firm has a market cap of $8.69 billion, a P/E ratio of 25.41 and a beta of 1.86. United States Steel has a twelve month low of $26.92 and a twelve month high of $50.20. The company has a 50-day moving average price of $36.52 and a 200-day moving average price of $37.68. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Wall Street Analyst Weigh In

X has been the topic of several research reports. Jefferies Financial Group reduced their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. StockNews.com began coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a report on Monday, September 9th. Finally, BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.