United States Steel (NYSE:X) Issues Q2 2020 Pre-Market Earnings Guidance

United States Steel (NYSE:X) issued an update on its second quarter 2020
Pre-Market earnings guidance on Wednesday morning. The company provided EPS guidance of -3.06–3.06 for the period, compared to the Thomson Reuters consensus EPS estimate of $-1.75. United States Steel also updated its Q2 guidance to ~($3.06) EPS.

Shares of NYSE X opened at $8.11 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.94 and a current ratio of 1.69. United States Steel has a 52 week low of $4.54 and a 52 week high of $15.90. The stock’s fifty day moving average is $8.43 and its 200 day moving average is $8.91.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported ($0.73) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.07. United States Steel had a negative return on equity of 4.63% and a negative net margin of 8.92%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the business earned $0.47 earnings per share. United States Steel’s revenue was down 21.5% on a year-over-year basis. On average, analysts predict that United States Steel will post -5.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, May 8th. United States Steel’s payout ratio is currently 44.44%.

A number of research firms have issued reports on X. ValuEngine upgraded United States Steel from a buy rating to a strong-buy rating in a research report on Wednesday, June 3rd. KeyCorp reaffirmed a hold rating on shares of United States Steel in a report on Thursday. UBS Group lowered their price objective on shares of United States Steel from $7.00 to $4.00 and set a sell rating for the company in a research report on Thursday, May 14th. BMO Capital Markets dropped their price objective on shares of United States Steel from $9.00 to $6.00 and set a market perform rating for the company in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of United States Steel from $9.00 to $6.00 and set a neutral rating for the company in a research note on Friday, April 17th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $8.40.

United States Steel Company Profile

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

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