United States Steel’s (NYSE:X) “Hold” Rating Reiterated at KeyCorp

KeyCorp reaffirmed their hold rating on shares of United States Steel (NYSE:X) in a research report sent to investors on Friday, November 17th.

A number of other brokerages have also weighed in on X. Bank of America set a $32.00 target price on shares of United States Steel and gave the stock a buy rating in a research report on Friday, October 20th. Macquarie began coverage on shares of United States Steel in a research report on Wednesday, September 6th. They set an outperform rating and a $31.00 price objective for the company. ValuEngine lowered shares of United States Steel from a buy rating to a hold rating in a research report on Thursday, November 9th. Standpoint Research downgraded shares of United States Steel from a buy rating to a reduce rating in a research note on Tuesday, September 5th. Finally, BMO Capital Markets reissued a market perform rating on shares of United States Steel in a research note on Friday, September 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $29.34.

Shares of United States Steel (X) traded up $0.54 on Friday, hitting $29.84. 10,943,137 shares of the stock were exchanged, compared to its average volume of 16,579,719. The company has a market cap of $5,220.00, a price-to-earnings ratio of 20.49 and a beta of 3.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.89 and a quick ratio of 1.23. United States Steel has a 52-week low of $18.55 and a 52-week high of $41.83.

United States Steel (NYSE:X) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. sell-side analysts expect that United States Steel will post 1.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, November 9th. United States Steel’s dividend payout ratio is presently 29.41%.

In other news, Director Eugene Sperling bought 1,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $25.16 per share, with a total value of $25,160.00. Following the acquisition, the director now directly owns 3,009 shares in the company, valued at $75,706.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Bradley purchased 36,762 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average cost of $27.23 per share, with a total value of $1,001,029.26. Following the acquisition, the chief financial officer now owns 30,415 shares in the company, valued at approximately $828,200.45. The disclosure for this purchase can be found here. Insiders have acquired a total of 60,597 shares of company stock valued at $1,656,892 over the last three months. 1.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Regal Investment Advisors LLC increased its stake in United States Steel by 29.2% during the second quarter. Regal Investment Advisors LLC now owns 24,168 shares of the basic materials company’s stock worth $535,000 after purchasing an additional 5,460 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in United States Steel by 150.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 56,881 shares of the basic materials company’s stock valued at $1,259,000 after purchasing an additional 34,209 shares in the last quarter. Skylands Capital LLC acquired a new position in United States Steel in the second quarter valued at approximately $684,000. California State Teachers Retirement System boosted its holdings in United States Steel by 1.9% in the second quarter. California State Teachers Retirement System now owns 321,357 shares of the basic materials company’s stock valued at $7,114,000 after purchasing an additional 6,028 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in United States Steel by 304.0% in the second quarter. Stifel Financial Corp now owns 159,801 shares of the basic materials company’s stock valued at $3,531,000 after purchasing an additional 120,248 shares in the last quarter. Hedge funds and other institutional investors own 64.27% of the company’s stock.

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United States Steel Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Analyst Recommendations for United States Steel (NYSE:X)

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