StockNews.com Begins Coverage on United States Steel (NYSE:X)

Analysts at StockNews.com began coverage on shares of United States Steel (NYSE:X) in a research note issued on Friday. The brokerage set a “hold” rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $51.00 to $48.00 in a research note on Monday, May 6th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their price target on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group initiated coverage on shares of United States Steel in a report on Monday, May 20th. They issued a “buy” rating and a $45.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.00.

United States Steel Stock Up 0.3 %

Shares of NYSE X opened at $40.75 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $37.80 and a 200-day moving average of $41.19. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 11.95 and a beta of 1.93. United States Steel has a 12 month low of $22.26 and a 12 month high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. Sell-side analysts expect that United States Steel will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United States Steel

A number of large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in United States Steel by 308.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock valued at $16,127,000 after acquiring an additional 250,311 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of United States Steel by 77.0% during the 4th quarter. Pacer Advisors Inc. now owns 33,111 shares of the basic materials company’s stock valued at $1,611,000 after purchasing an additional 14,405 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of United States Steel by 16.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 7,670 shares of the basic materials company’s stock valued at $373,000 after buying an additional 1,070 shares during the period. JB Capital LLC bought a new position in United States Steel in the fourth quarter worth about $221,000. Finally, Oak Thistle LLC bought a new stake in United States Steel during the 4th quarter valued at approximately $560,000. Institutional investors own 81.92% 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. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.