Analysts Issue Forecasts for United States Steel Co.’s FY2022 Earnings (NYSE:X)

United States Steel Co. (NYSE:XGet Rating) – KeyCorp boosted their FY2022 earnings estimates for shares of United States Steel in a research report issued to clients and investors on Tuesday, April 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $10.30 for the year, up from their previous forecast of $9.80.

United States Steel (NYSE:XGet Rating) last issued its earnings results on Thursday, January 27th. The basic materials company reported $3.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.56 by ($0.92). United States Steel had a return on equity of 55.13% and a net margin of 20.86%. The business had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned ($0.27) EPS. The company’s revenue for the quarter was up 119.4% on a year-over-year basis.

X has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of United States Steel from $28.00 to $31.00 and gave the company a “sell” rating in a report on Tuesday, March 22nd. JPMorgan Chase & Co. lifted their price objective on shares of United States Steel from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, March 24th. Wolfe Research lowered shares of United States Steel from a “market perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Tuesday, January 11th. Morgan Stanley upgraded shares of United States Steel from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $21.00 to $31.00 in a research report on Sunday, March 6th. Finally, StockNews.com started coverage on shares of United States Steel in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.30.

Shares of United States Steel stock opened at $33.59 on Thursday. United States Steel has a 1 year low of $17.98 and a 1 year high of $39.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.28. The firm has a fifty day moving average price of $32.73 and a 200 day moving average price of $26.62. The stock has a market cap of $8.75 billion, a PE ratio of 2.30 and a beta of 1.99.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 8th. Shareholders of record on Monday, February 7th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 4th. This represents a $0.20 annualized dividend and a yield of 0.60%. United States Steel’s payout ratio is 1.37%.

In other news, CEO David B. Burritt sold 43,530 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $38.00, for a total value of $1,654,140.00. Following the sale, the chief executive officer now directly owns 774,043 shares of the company’s stock, valued at approximately $29,413,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Manpreet Grewal sold 1,359 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $37.71, for a total transaction of $51,247.89. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $1,104,299.64. The disclosure for this sale can be found here. Insiders sold a total of 191,838 shares of company stock worth $6,688,783 over the last quarter. 1.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in X. Amundi Pioneer Asset Management Inc. grew its holdings in United States Steel by 1.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 159,943 shares of the basic materials company’s stock worth $3,117,000 after acquiring an additional 2,795 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in United States Steel by 1.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 163,207 shares of the basic materials company’s stock worth $3,586,000 after acquiring an additional 3,075 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in United States Steel by 194.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 73,138 shares of the basic materials company’s stock worth $1,607,000 after acquiring an additional 48,295 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in United States Steel during the 3rd quarter worth approximately $207,000. Finally, AE Wealth Management LLC grew its holdings in United States Steel by 22.2% during the 3rd quarter. AE Wealth Management LLC now owns 12,413 shares of the basic materials company’s stock worth $273,000 after acquiring an additional 2,256 shares in the last quarter. 68.19% of the stock is currently owned by hedge funds and other institutional investors.

About United States Steel (Get Rating)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.

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Earnings History and Estimates for United States Steel (NYSE:X)

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