United States Steel Co. (X) To Go Ex-Dividend on May 10th

United States Steel Co. (NYSE:X) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.05 per share by the basic materials company on Wednesday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th.

United States Steel has raised its dividend by an average of 71.0% per year over the last three years. United States Steel has a payout ratio of 6.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect United States Steel to earn $3.79 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 5.3%.

United States Steel Stock Down 1.6 %

X opened at $36.47 on Friday. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 10.70 and a beta of 2.06. The business has a 50 day moving average of $41.48 and a 200-day moving average of $41.46.

United States Steel (NYSE:X) last issued its earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.21 by $0.46. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a return on equity of 10.68% and a net margin of 4.89%. United States Steel’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.87 earnings per share. As a group, sell-side analysts anticipate that United States Steel will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley lowered United States Steel from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $40.00 to $51.00 in a research note on Thursday, February 15th. BMO Capital Markets dropped their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, March 19th. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. StockNews.com assumed coverage on United States Steel in a research note on Monday, April 29th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.89.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.