United States Steel Co. (NYSE:X) Plans $0.05 Quarterly Dividend

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 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th.

United States Steel has increased its dividend payment by an average of 71.0% per year over the last three years. United States Steel has a dividend payout ratio of 6.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of X opened at $36.47 on Friday. United States Steel has a 12-month low of $20.40 and a 12-month high of $50.20. The business has a 50-day simple moving average of $41.48 and a two-hundred day simple moving average of $41.46. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.20 billion, a PE ratio of 10.70 and a beta of 2.06.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on X shares. JPMorgan Chase & Co. decreased their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley cut United States Steel from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research note on Tuesday, April 9th. BMO Capital Markets decreased their price target 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. Finally, StockNews.com started coverage on United States Steel in a research note on Monday, April 29th. They issued a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.89.

United States Steel Company Profile

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.