United States Steel (NYSE:X) Earns Hold Rating from Analysts at StockNews.com

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

Several other analysts also recently issued reports on the company. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their target price on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Finally, Jefferies Financial Group began coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.78.

United States Steel Trading Up 2.4 %

X opened at $39.26 on Tuesday. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 11.51 and a beta of 1.93. United States Steel has a 52 week low of $22.26 and a 52 week high of $50.20. The business’s 50 day moving average is $37.31 and its two-hundred day moving average is $42.31. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. On average, research analysts predict that United States Steel will post 2.66 EPS for the current year.

Institutional Trading of United States Steel

Several institutional investors and hedge funds have recently made changes to their positions in X. Norges Bank bought a new stake in shares of United States Steel in the 4th quarter valued at about $200,952,000. KRYGER CAPITAL Ltd bought a new stake in shares of United States Steel during the 4th quarter worth $95,529,000. Segantii Capital Management Ltd bought a new position in United States Steel in the fourth quarter valued at about $68,840,000. Bank of Nova Scotia bought a new position in United States Steel in the fourth quarter valued at about $53,338,000. Finally, ING Groep NV bought a new position in United States Steel in the fourth quarter valued at about $49,769,000. Institutional investors own 81.92% of the company’s stock.

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.