United States Steel Corp. [NYSE: X] traded at a high on Tuesday, posting a 2.26 gain after which it closed the day’ session at $39.75. The company report on March 18, 2024 at 8:15 AM that United States Steel Corporation Provides First Quarter 2024 Guidance.
United States Steel Corporation (NYSE: X) today provided first quarter 2024 adjusted net earnings per diluted share guidance of $0.80 to $0.84. First quarter 2024 adjusted EBITDA is expected to be approximately $425 million.
Commenting on first quarter guidance President and Chief Executive Officer David B. Burritt said, “We remain focused on running our business as we make progress towards closing our transaction with Nippon Steel Corporation. Our anticipated first quarter performance is in-line with our prior outlook, reflecting healthy steel demand, strong operating performance, and continued focus from our employees on delighting our customers. Our North American Flat-Rolled segment’s balanced and diverse markets are keeping the order book strong. Meanwhile, our Mini Mill segment continues to capture sequentially higher-priced spot orders to drive better results compared with the fourth quarter. In Europe, commercial and energy tailwinds and management cost improvements are projected to drive better EBITDA than the fourth quarter. Our Tubular segment is navigating softer first quarter demand and price headwinds while still expecting to deliver strong margins.”.
The results of the trading session contributed to over 5018861 shares changing hands. Over the past one week, the price volatility of United States Steel Corp. stands at 7.77% while the volatility over the past one month is 2.96%.
The market cap for X stock reached $8.89 billion, with 223.67 million shares outstanding and 220.29 million shares in the current float. Compared to the average trading volume of 5.87M shares, X reached a trading volume of 5018861 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about United States Steel Corp. [X]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for X shares is $47.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on X stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for United States Steel Corp. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on February 15, 2024. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $52 to $47. The new note on the price target was released on February 09, 2024, representing the official price target for United States Steel Corp. stock. Previously, the target price had yet another raise to $52, while JP Morgan analysts kept a Neutral rating on X stock.
The Average True Range (ATR) for United States Steel Corp. is set at 1.33, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 13.21.
How has X stock performed recently?
United States Steel Corp. [X] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.14. With this latest performance, X shares dropped by -13.59% in over the last four-week period, additionally plugging by 30.20% over the last 6 months – not to mention a rise of 65.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for X stock in for the last two-week period is set at 25.92, with the RSI for the last a single of trading hit 23.78, and the three-weeks RSI is set at 29.87 for United States Steel Corp. [X]. The present Moving Average for the last 50 days of trading for this stock 46.34, while it was recorded at 39.32 for the last single week of trading, and 35.17 for the last 200 days.
United States Steel Corp. [X]: Deeper insight into the fundamentals
United States Steel Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.22 and a Current Ratio set at 1.76.
Earnings analysis for United States Steel Corp. [X]
With the latest financial reports released by the company, United States Steel Corp. posted 0.77/share EPS, while the average EPS was predicted by analysts to be reported at 0.64/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for X. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for United States Steel Corp. go to 8.00%.
Insider trade positions for United States Steel Corp. [X]
The top three institutional holders of X stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in X stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in X stock with ownership which is approximately 5.8325%.
