Tue Sep 17 06:14:50 UTC 2024: ## United States Steel’s Earnings Forecast Cut by Zacks Research
**PITTSBURGH, PA – September 17, 2024** – Zacks Research has lowered its earnings forecast for United States Steel (NYSE:X) for the fiscal year 2025. Analyst A. Barman now predicts the basic materials company will post earnings of $2.53 per share, down from the previous estimate of $2.62. This revised forecast is below the current consensus estimate of $2.15 per share.
The news comes following United States Steel’s strong Q2 2024 earnings report, where the company exceeded analysts’ expectations. The company reported $0.84 EPS for the quarter, topping the consensus estimate by $0.12 and exceeding the $1.92 EPS earned during the same period last year. Revenue also came in at $4.12 billion, surpassing analysts’ projections of $4.01 billion.
Despite the strong quarterly performance, Zacks Research attributes the downward revision to potential economic headwinds and market uncertainties. The company’s revenue is down 17.8% year-over-year, indicating a slowdown in demand.
United States Steel shares opened at $36.36 on Monday, with a one-year low of $26.92 and a one-year high of $50.20. The company has a market cap of $8.18 billion and a price-to-earnings ratio of 10.66.
The company recently declared a quarterly dividend of $0.05 per share, representing an annualized dividend of $0.20 and a dividend yield of 0.55%. Institutional investors own 81.92% of the stock.
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through four segments: North American Flat-Rolled, Mini Mill, U. S. Steel Europe, and Tubular Products.
**Disclaimer:** This news article is based on information provided in the original text and may not reflect all aspects of the company’s performance or market conditions. Investors should conduct their own due diligence before making any investment decisions.
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