United States Steel Co. (NYSE:X) to Issue $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 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 raised 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 United States Steel stock traded up $0.07 on Thursday, hitting $37.05. 2,271,306 shares of the company traded hands, compared to its average volume of 4,580,215. United States Steel has a 12-month low of $20.40 and a 12-month 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 company has a market cap of $8.33 billion, a P/E ratio of 10.54 and a beta of 2.06. The firm’s 50-day simple moving average is $41.89 and its 200 day simple moving average is $41.46.

United States Steel (NYSE:X) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (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 analyst estimates of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. Analysts expect that United States Steel will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on X shares. JPMorgan Chase & Co. assumed 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 target on the stock. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, April 9th. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. BMO Capital Markets cut their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, March 19th. Finally, StockNews.com started coverage on shares of United States Steel in a research note on Monday. They set 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 company currently has an average rating of “Hold” and an average target price of $37.89.

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.