ValuEngine upgraded shares of United States Steel (NYSE:X) from a strong sell rating to a sell rating in a research report released on Thursday morning.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of United States Steel from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Tuesday, July 17th. Morgan Stanley cut shares of United States Steel from an overweight rating to an underweight rating and decreased their price target for the stock from $44.00 to $30.00 in a research note on Monday, August 27th. Deutsche Bank cut shares of United States Steel from a buy rating to a hold rating and decreased their price target for the stock from $47.00 to $35.00 in a research note on Tuesday, October 2nd. Seaport Global Securities initiated coverage on shares of United States Steel in a research note on Thursday, October 11th. They issued a buy rating and a $35.00 price target on the stock. Finally, TheStreet upgraded shares of United States Steel from a c rating to a b rating in a research note on Thursday, August 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. United States Steel currently has an average rating of Hold and a consensus target price of $40.72.
Shares of X stock opened at $27.97 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. United States Steel has a 1 year low of $24.84 and a 1 year high of $47.64. The firm has a market cap of $4.96 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 0.60 and a beta of 2.92.
United States Steel (NYSE:X) last released its earnings results on Friday, November 2nd. The basic materials company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. United States Steel had a net margin of 5.01% and a return on equity of 22.46%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the company earned $0.92 EPS. United States Steel’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that United States Steel will post 5.82 earnings per share for the current fiscal year.
United States Steel announced that its board has authorized a share repurchase program on Thursday, November 1st that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 8th. United States Steel’s dividend payout ratio (DPR) is presently 10.31%.
Several institutional investors have recently bought and sold shares of the company. Advisors Preferred LLC grew its holdings in United States Steel by 131.7% during the 2nd quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 1,747 shares during the last quarter. Exane Derivatives grew its holdings in United States Steel by 364,000.0% during the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 3,640 shares during the last quarter. Truvestments Capital LLC bought a new position in United States Steel during the 3rd quarter valued at about $143,000. NuWave Investment Management LLC bought a new position in United States Steel during the 2nd quarter valued at about $189,000. Finally, Syntal Capital Partners LLC bought a new position in United States Steel during the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 67.96% of the company’s stock.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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