First-quarter revenue is forecast at $90.07 billion, down 5.6% sequentially and by less than 1% year over year. Adjusted EPS are pegged at $2.60, down 23.5% sequentially but up 25.6% year over year. For the full 2023 fiscal year, estimates call for EPS of $10.08, down 28.3%, on sales of $386.83 billion, down 6.5%.
Exxon shares trade at 11.5 times expected 2023 EPS, 12.0 times estimated 2024 earnings of $9.66 and 12.7 times estimated 2025 earnings of $9.13 per share. The stock’s 52-week range is $82.69 to $119.63. Exxon pays an annual dividend of $3.64 (yield of 3.08%). Total shareholder return for the past 12 months was 45.52%.
U.S. Steel
Over the past 12 months, shares of United States Steel Corp. (NYSE: X) have dropped more than 24% from their value, down about 29% from a 52-week high that will roll off at the end of this month. Steel prices rose between early November and mid-March, but have been falling fast in the past five weeks to their level in late November. Global steel production rose 15.9% month over month in March and 1.7% year over year. U.S. steelmakers grew March production by 11.7% month over month. Rising production will not help prices, especially if the economy stays weak.
Of 11 brokerages covering the shares, only three have a Buy or Strong Buy rating. Another six rate the stock at Hold. At a share price of around $24.00, the implied upside based on a median price target of $30.00 is 25%. At the high target of $37.00, the upside potential is 37.1%.
First-quarter revenue is expected to come in at $4.25 billion, down 2.1% sequentially and by 18.7% year over year. Adjusted EPS are forecast at $0.53, down 39% sequentially and 82.6% lower year over year. For the 2023 fiscal year, analysts expect U.S. Steel to post EPS of $4.25, down 57.3%, on sales of $18.01 billion, down 14.5%.
U.S. Steel stock trades at 5.6 times expected 2023 EPS, 12.0 times estimated 2024 earnings of $2.00 and 8.2 times estimated 2025 earnings of $2.92 per share. The stock’s 52-week range is $16.41 to $34.37, and the company pays an annual dividend of $0.20 (yield of 0.83%). Total shareholder return for the past 12 months was negative 23.51%.
Originally published at 24/7 Wall St.
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