United States Steel Corporation (X) gained 7.23% in after-hours trading to $25.07 during Thursday’s last check. During the last trading session, U.S. Steel stock gained 0.26% to close at $23.38. Shares of the company traded between $22.99 and $23.70. It traded 21.51 million shares, similar to its daily average of 21.86 million shares over 100 trading days.
In the last five days, U.S. Steel shares have gained 5.27%, while they have gained 6.95% in the last month. Currently, U.S. Steel yields 0.17%. Its price to earnings ratio stands at 7.69, while its price to book ratio is 1.08. Additionally, its price to cash flow ratio is 5.87. U.S. Steel stock surged after-hours after its results beat analysts’ expectations and announcing a share repurchase program.
What has been U.S. Steel’s performance this quarter?
U.S. Steel Corp has been a steel producer since 1901. U.S. Steel’s customer-centric “Best for All” strategy advances a secure, sustainable future for its stakeholders as well as for its employees. With a renewed focus on innovation, U.S. Steel provides high value-added steel products such as XG3 advanced high-strength steel, which is the steel U.S. Steel developed exclusively for the automotive, construction, appliance, energy, and container industries. In addition, U.S. Steel produces iron ore at a competitive price and has a raw steelmaking capacity of 26.2 million tons a year. Located in Pittsburgh, Pennsylvania, U.S. Steel operates in the United States as well as in Central Europe.
U.S. Steel Corp released its third quarter 2021 results for the period ended September 30, 2021 after the regular session ended on Thursday.
Highlights of financial performance:
- In the third quarter of 2021, U.S. Steel achieved a net profit of $2.002 billion, or $6.97 per diluted share, compared to a loss of $234 million, or $1.06 per diluted share, in the third quarter of 2020.
- S. Steel posted adjusted net earnings of $1.54 billion (5.36 per diluted share) compared to adjusted net losses of $268 million (1.21 per diluted share) a year ago.
- In the quarter ended September 2021, U.S. Steel generated revenues of $5.69 billion, compared to $2.34 billion a year earlier.
- As part of its quarterly dividend announcement, U.S. Steel announced a payout of $0.05 per share.
- In other words, this is an increase of 400%, or $0.04 per share, over the previous quarter’s dividend.
- Stockholders of record on Monday, November 8, 2021 will receive the dividend on Thursday, December 9, 2021.
U.S. Steel to start share repurchase program:
U.S. Steel (X) additionally declared that its Board of Directors supported huge improvements to its capital assignment needs lined up with the proceeded with execution of its Best for All system. The upgrades incorporate a stock repurchase program under which up to $300 million of U.S. Steel’s outstanding common might be repurchased at the circumspection of the board. The shares will be bought by U.S. Steel every now and then at winning business sector costs, through open market or secretly arranged exchanges, contingent on economic situations. Under the program, the purchases will be supported by U.S. Steel from cash close by, and the repurchased offers will be held as depository shares.