United States Steel (NYSE:X) Receives Market Perform Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of United States Steel (NYSE:X) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. BMO Capital Markets currently has a $45.00 price target on the basic materials company’s stock.

Several other analysts have also recently issued reports on the stock. Bank of America started coverage on shares of United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley increased their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group decreased their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Stock Performance

NYSE:X opened at $42.42 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. United States Steel has a fifty-two week low of $26.92 and a fifty-two week high of $44.87. The firm’s fifty day simple moving average is $38.87 and its 200-day simple moving average is $37.34. The stock has a market cap of $9.60 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. Analysts expect that United States Steel will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio is presently 13.42%.

Hedge Funds Weigh In On United States Steel

Several institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of United States Steel in the fourth quarter valued at $130,731,000. Forest Avenue Capital Management LP purchased a new position in United States Steel in the 4th quarter worth about $50,795,000. Holocene Advisors LP purchased a new stake in shares of United States Steel in the 3rd quarter valued at approximately $51,620,000. NWI Management LP purchased a new stake in shares of United States Steel in the fourth quarter valued at $48,946,000. Finally, Duquesne Family Office LLC grew its position in United States Steel by 142.8% during the fourth quarter. Duquesne Family Office LLC now owns 1,610,040 shares of the basic materials company’s stock valued at $54,725,000 after purchasing an additional 946,950 shares in the last quarter. 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.