United States Steel (NYSE:X) Price Target Cut to $40.00 by Analysts at Jefferies Financial Group

United States Steel (NYSE:X) had its price target decreased by Jefferies Financial Group from $45.00 to $40.00 in a research note issued to investors on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on X. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Finally, BMO Capital Markets reduced their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, United States Steel presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Stock Down 1.7 %

United States Steel stock opened at $32.74 on Monday. United States Steel has a fifty-two week low of $26.92 and a fifty-two week high of $48.85. The firm’s 50-day simple moving average is $36.25 and its 200 day simple moving average is $37.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The stock has a market cap of $7.37 billion, a PE ratio of 21.54 and a beta of 1.88.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. Research analysts predict that United States Steel will post 2.17 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were issued a $0.05 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. United States Steel’s payout ratio is currently 13.16%.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently modified their holdings of the company. Palouse Capital Management Inc. purchased a new stake in United States Steel in the third quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in United States Steel in the 3rd quarter worth $39,000. GAMMA Investing LLC lifted its stake in United States Steel by 50.0% in the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 442 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in United States Steel during the second quarter valued at about $46,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of United States Steel in the 3rd quarter valued at about $59,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Company Profile

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.