United States Steel Co. to Issue Quarterly Dividend of $0.05 (NYSE:X)

United States Steel Co. (NYSE:X) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Monday, May 13th will be given 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 0.54%.

United States Steel has increased its dividend payment by an average of 71.0% annually 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 Up 0.2 %

Shares of X traded up $0.07 during mid-day trading on Thursday, hitting $37.05. 2,271,306 shares of the company traded hands, compared to its average volume of 4,580,215. The company has a market capitalization of $8.33 billion, a PE ratio of 10.54 and a beta of 2.06. 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 business has a 50 day moving average of $41.89 and a 200 day moving average of $41.46. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20.

United States Steel (NYSE:X) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.46. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. Equities research analysts anticipate that United States Steel will post 2.99 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on X shares. JPMorgan Chase & Co. initiated coverage on shares of United States Steel in a research note on Friday, January 12th. They set a “neutral” rating and a $52.00 price objective on the stock. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. Morgan Stanley cut United States Steel from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. BMO Capital Markets reduced their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Finally, StockNews.com assumed coverage on United States Steel in a research report on Monday. They issued a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.89.

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.