United States Steel (NYSE:X) Given a $23.00 Price Target at UBS Group

UBS Group set a $23.00 price target on United States Steel (NYSE:XGet Rating) in a report published on Monday morning, Stock Target Advisor reports.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their target price on United States Steel from $34.00 to $28.00 and set an underweight rating on the stock in a report on Tuesday, June 14th. StockNews.com raised United States Steel from a hold rating to a buy rating in a research report on Tuesday, May 17th. The Goldman Sachs Group cut their price objective on United States Steel from $36.00 to $22.00 and set a sell rating on the stock in a research report on Tuesday, May 31st. Credit Suisse Group cut their price objective on United States Steel from $49.00 to $44.00 and set an outperform rating on the stock in a research report on Friday, June 17th. Finally, Morgan Stanley raised United States Steel from an underweight rating to an equal weight rating and raised their price objective for the company from $21.00 to $31.00 in a research report on Sunday, March 6th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $30.00.

X stock opened at $19.01 on Monday. United States Steel has a 52-week low of $17.98 and a 52-week high of $39.25. The stock’s fifty day simple moving average is $26.36 and its 200-day simple moving average is $26.96. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 1.10 and a beta of 2.01.

United States Steel (NYSE:XGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The basic materials company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.05. United States Steel had a return on equity of 54.02% and a net margin of 23.01%. The business had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The business’s revenue was up 42.8% on a year-over-year basis. As a group, analysts anticipate that United States Steel will post 10.98 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Monday, May 9th were paid a $0.05 dividend. The ex-dividend date was Friday, May 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.05%. United States Steel’s payout ratio is currently 1.16%.

In other news, CEO David B. Burritt sold 43,530 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $38.00, for a total transaction of $1,654,140.00. Following the completion of the transaction, the chief executive officer now directly owns 774,043 shares in the company, valued at $29,413,634. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Manpreet Grewal sold 3,505 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $33.00, for a total value of $115,665.00. Following the transaction, the chief accounting officer now owns 23,913 shares of the company’s stock, valued at $789,129. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,344 shares of company stock valued at $4,252,827. 1.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in X. North Star Investment Management Corp. lifted its position in United States Steel by 2,000.0% in the fourth quarter. North Star Investment Management Corp. now owns 1,050 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,000 shares during the period. Byrne Asset Management LLC acquired a new stake in United States Steel in the fourth quarter worth approximately $26,000. Rational Advisors LLC acquired a new stake in United States Steel in the fourth quarter worth approximately $27,000. Moors & Cabot Inc. acquired a new stake in United States Steel in the third quarter worth approximately $30,000. Finally, Norwood Financial Corp acquired a new stake in United States Steel in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 72.56% of the company’s stock.

United States Steel Company Profile (Get Rating)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.

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Analyst Recommendations for United States Steel (NYSE:X)

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