United States Steel (NYSE:X) issued its quarterly earnings results on Friday. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06, Briefing.com reports. United States Steel had a return on equity of 22.46% and a net margin of 5.01%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the company posted $0.92 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year.
NYSE X opened at $27.97 on Friday. United States Steel has a 12 month low of $24.84 and a 12 month high of $47.64. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 0.60 and a beta of 2.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.66.
The business also recently declared a dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a $0.05 dividend. The ex-dividend date is Thursday, November 8th. United States Steel’s dividend payout ratio (DPR) is presently 10.31%.
United States Steel announced that its board has approved a share repurchase plan on Thursday, November 1st that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Several equities analysts have recently issued reports on X shares. ValuEngine lowered United States Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Deutsche Bank lowered United States Steel from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Morgan Stanley lowered United States Steel from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $44.00 to $30.00 in a research report on Monday, August 27th. TheStreet upgraded United States Steel from a “c” rating to a “b” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded United States Steel from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research report on Sunday, July 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $40.72.
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: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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