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

StockNews.com began coverage on shares of United States Steel (NYSE:X) in a research report released on Sunday morning. The firm issued a hold rating on the basic materials company’s stock.

X has been the topic of several other reports. JPMorgan Chase & Co. initiated coverage on United States Steel in a research report on Friday, January 12th. They issued a neutral rating and a $52.00 target price on the stock. Morgan Stanley lowered United States Steel from an overweight rating to an equal weight rating and upped their target price for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. BMO Capital Markets cut their price objective on United States Steel from $55.00 to $45.00 and set a market perform rating on the stock in a research note on Tuesday, March 19th. Finally, Wolfe Research raised United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective on the stock in a research note on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, United States Steel presently has a consensus rating of Hold and an average target price of $37.89.

United States Steel Trading Down 2.3 %

Shares of NYSE X opened at $37.95 on Friday. United States Steel has a 12 month low of $20.40 and a 12 month high of $50.20. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 10.81 and a beta of 2.01. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $42.96 and a 200-day simple moving average of $41.37.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the business posted $0.87 earnings per share. United States Steel’s revenue was down 4.5% compared to the same quarter last year. Sell-side analysts predict that United States Steel will post 3.18 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, February 9th. United States Steel’s dividend payout ratio (DPR) is currently 5.70%.

Institutional Trading of United States Steel

Several institutional investors have recently modified their holdings of X. Global Retirement Partners LLC boosted its stake in United States Steel by 44.5% in the 1st quarter. Global Retirement Partners LLC now owns 3,957 shares of the basic materials company’s stock valued at $161,000 after buying an additional 1,219 shares in the last quarter. Louisiana State Employees Retirement System raised its position in United States Steel by 2.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 64,400 shares of the basic materials company’s stock valued at $2,626,000 after purchasing an additional 1,800 shares during the last quarter. Rational Advisors LLC bought a new position in United States Steel in the 1st quarter valued at $50,000. Byrne Asset Management LLC raised its position in shares of United States Steel by 1,140.0% during the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 570 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of United States Steel by 2.6% during the first quarter. State of Michigan Retirement System now owns 54,899 shares of the basic materials company’s stock worth $2,239,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds 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.