United States Steel Co. (NYSE:X) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 47,860,000 shares, a decline of 7.5% from the August 15th total of 51,730,000 shares. Based on an average daily volume of 12,200,000 shares, the short-interest ratio is presently 3.9 days. Currently, 28.3% of the shares of the company are sold short.
NYSE:X traded up $0.13 during mid-day trading on Monday, hitting $11.46. 216,991 shares of the stock traded hands, compared to its average volume of 13,337,277. The business’s 50-day moving average price is $11.64 and its 200 day moving average price is $14.71. The company has a market cap of $1.91 billion, a PE ratio of 2.13, a price-to-earnings-growth ratio of 6.57 and a beta of 3.01. United States Steel has a 12-month low of $10.16 and a 12-month high of $30.91. The company has a quick ratio of 0.74, a current ratio of 1.41 and a debt-to-equity ratio of 0.59.
United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. United States Steel’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. Analysts anticipate that United States Steel will post 0.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 14th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.75%. United States Steel’s dividend payout ratio is presently 3.73%.
Several research firms have recently issued reports on X. Credit Suisse Group lowered their price target on shares of United States Steel from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Thursday, September 19th. ValuEngine lowered shares of United States Steel from a “sell” rating to a “strong sell” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered shares of United States Steel from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $14.00 in a research report on Monday, September 23rd. Barclays began coverage on shares of United States Steel in a research note on Friday, September 6th. They set an “overweight” rating for the company. Finally, Macquarie cut shares of United States Steel from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $18.00 to $9.00 in a research note on Thursday, September 19th. Seven research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. United States Steel presently has a consensus rating of “Hold” and an average price target of $17.70.
A number of hedge funds have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP purchased a new position in United States Steel in the 2nd quarter worth approximately $148,000. Nomura Holdings Inc. grew its stake in United States Steel by 58.7% in the 2nd quarter. Nomura Holdings Inc. now owns 187,960 shares of the basic materials company’s stock worth $2,789,000 after buying an additional 69,539 shares in the last quarter. First Dallas Securities Inc. grew its stake in United States Steel by 10.0% in the 2nd quarter. First Dallas Securities Inc. now owns 103,816 shares of the basic materials company’s stock worth $1,589,000 after buying an additional 9,452 shares in the last quarter. Magnetar Financial LLC grew its stake in United States Steel by 89.1% in the 2nd quarter. Magnetar Financial LLC now owns 40,216 shares of the basic materials company’s stock worth $616,000 after buying an additional 18,944 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in United States Steel by 86.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,064 shares of the basic materials company’s stock worth $627,000 after buying an additional 19,062 shares in the last quarter. 60.77% of the stock is owned by institutional investors and hedge funds.
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: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.
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