United States Steel Co. (NYSE:X) – Equities research analysts at KeyCorp decreased their FY2020 earnings estimates for United States Steel in a research report issued on Tuesday, May 21st. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.49 per share for the year, down from their prior forecast of $0.67.
A number of other equities research analysts also recently weighed in on X. Morgan Stanley raised shares of United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective for the company in a research report on Monday, January 28th. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective (down previously from $18.00) on shares of United States Steel in a research report on Friday, May 3rd. Credit Suisse Group downgraded shares of United States Steel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $21.00 to $13.00 in a research report on Tuesday, April 9th. UBS Group downgraded shares of United States Steel from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $22.00 to $10.00 in a research report on Wednesday, May 8th. Finally, Berenberg Bank raised shares of United States Steel from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, February 21st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. United States Steel currently has a consensus rating of “Hold” and a consensus target price of $22.61.
United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.30. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.37 billion. United States Steel had a net margin of 7.92% and a return on equity of 24.72%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS.
Hedge funds have recently added to or reduced their stakes in the stock. We Are One Seven LLC acquired a new stake in United States Steel during the fourth quarter valued at approximately $25,000. Quantamental Technologies LLC acquired a new stake in United States Steel during the fourth quarter valued at approximately $33,000. Quadrant Capital Group LLC lifted its stake in United States Steel by 1,151.3% during the first quarter. Quadrant Capital Group LLC now owns 2,440 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 2,245 shares during the last quarter. Truvestments Capital LLC acquired a new stake in United States Steel during the first quarter valued at approximately $67,000. Finally, Rational Advisors LLC lifted its stake in United States Steel by 999.7% during the fourth quarter. Rational Advisors LLC now owns 3,453 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 3,139 shares during the last quarter. 67.07% of the stock is owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio is currently 3.73%.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), 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 all iron ore and coke.
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