On September 3, 2023, it was reported that SVP Kenneth E. Jaycox of United States Steel Co. (NYSE:X) had sold 10,756 shares of the company’s stock in a transaction that took place on August 30th. The shares were sold at an average price of $30.75, resulting in a total transaction value of $330,747.00. According to the disclosure filed with the SEC, Mr. Jaycox now directly owns 85,480 shares of United States Steel Co., which are valued at $2,628,510.
Following this news, United States Steel Co.’s stock traded up by $0.20 on Friday and reached a price of $31.29 per share. The trading volume for the day was 1,290,220 shares compared to its average volume of 8,111,086 shares. The company has a debt-to-equity ratio of 0.38 and a current ratio of 1.92 along with a quick ratio of 1.30.
United States Steel Co.’s market capitalization stands at approximately $6.98 billion with its stock having a P/E ratio of 5.98 and a beta value of 2.15. The stock’s 50-day simple moving average is recorded at $26.27 while its two-hundred-day simple moving average is calculated as $25.32.
A number of brokerages have recently issued reports on X’s performance in the market and provided price targets for the stock as well as recommendations for investors to consider. BMO Capital Markets decreased their price target from $27 to $26 in July while JPMorgan Chase & Co also reduced their price objective from $24 to $23 and gave it a “neutral” rating in July as well.
Other brokerages like BNP Paribas downgraded United States Steel from an “outperform” rating to a “neutral” rating in July and set a $26 price objective while Wolfe Research downgraded it from a “peer perform” rating to an “underperform” rating with a $19 price target. Morgan Stanley, on the other hand, gave United States Steel an “equal weight” rating and set its price objective at $25.
Three investment analysts have rated the stock as sell, five have given it a hold rating, and one has issued a buy rating. According to Bloomberg, the consensus rating for United States Steel Co.’s stock stands at “Hold”, with an average target price of $26.00.
In addition to these developments, United States Steel Co. has declared a quarterly dividend that will be paid on Thursday, September 7th. Shareholders of record as of Monday, August 7th will receive a dividend of $0.05 per share. This represents an annualized dividend of $0.20 and a yield of 0.64%. The ex-dividend date for this dividend was Friday, August 4th.
These recent events provide insights into United States Steel Co.’s stock performance and shareholder transactions. Investors may take this information into consideration when making decisions about their investments in the company.
United States Steel Corporation
X
Buy
Updated on: 03/09/2023
United States Steel: Perplexing Earnings Results and Uncertain Future Prospects
United States Steel (NYSE:X) recently released its quarterly earnings results, leaving many investors perplexed and questioning the future prospects of the company. On Friday, July 28th, the basic materials company reported earnings per share of $1.92 for the quarter, surpassing analysts’ consensus estimate of $1.86 by a mere $0.06.
This unexpected beat in earnings per share has left many investors confused and intrigued about what led to this surprising result. The net margin of United States Steel stood at 7.05%, while the return on equity was calculated at 13.51%. These figures indicate a decent performance by the company, but they do little to alleviate the overall sense of uncertainty surrounding its future.
The revenue for the quarter was reported at $5.01 billion, falling short of the consensus estimate of $5.11 billion. This represents a decrease of 20.4% compared to the same period in the previous year, which adds another layer of perplexity to United States Steel’s financial performance.
Looking ahead, research analysts are forecasting that United States Steel Co. will post earnings per share of 3.97 for the current fiscal year. However, given the unexpected variations in quarterly results and unpredictable market conditions, it is difficult to fully grasp what lies ahead for this company.
Adding further complexity to this situation are recent actions taken by several large investors regarding their stakes in United States Steel. Bornite Capital Management LP increased its position in shares of United States Steel by an astonishing 300% during the first quarter, acquiring an additional 300,000 shares valued at $15,096,000.
On the other hand, Natixis Advisors L.P., Healthcare of Ontario Pension Plan Trust Fund, Great West Life Assurance Co., Can., and Blair William & Co. IL have also made notable moves with their investments in United States Steel during the same period.
These varying reactions from institutional investors highlight the uncertainty and bustiness surrounding United States Steel’s prospects. Hedge funds and other institutional investors currently own 74.60% of the company’s stock, emphasizing the significant impact their decisions could have on its future trajectory.
As investors try to make sense of United States Steel’s recent earnings report and navigate the complex web of institutional investor activity, there is a sense of great uncertainty in the air. The future of this basic materials company remains clouded with questions, making it a truly perplexing situation for all involved.
It is important for both current and potential investors to closely monitor any updates on United States Steel, as well as conduct thorough research and analysis before making any investment decisions. The state of confusion that permeates this company demands careful consideration and a cautious approach from those interested in its financial wellbeing.
In conclusion, United States Steel’s recent earnings report has left many scratching their heads, as the results defy expectations and fail to provide clear direction for the company moving forward. With varying reactions from large investors adding further complexity to the situation, it is crucial for investors to exercise caution and remain vigilant in these uncertain times.
