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

StockNews.com started coverage on shares of United States Steel (NYSE:X) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the basic materials company’s stock.

A number of other equities analysts have also weighed in on X. Morgan Stanley upgraded United States Steel from an equal weight rating to an overweight rating and decreased their price target for the company from $51.00 to $48.00 in a research report on Monday, May 6th. Jefferies Financial Group began coverage on United States Steel in a research report on Monday, May 20th. They set a buy rating and a $45.00 price target on the stock. BMO Capital Markets decreased their price objective on United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a research report on Tuesday, March 19th. Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 target price on the stock in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $38.78.

United States Steel Price Performance

NYSE X opened at $35.91 on Thursday. The firm has a market capitalization of $8.07 billion, a PE ratio of 10.53 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. United States Steel has a 12 month low of $20.40 and a 12 month high of $50.20. The company’s 50 day simple moving average is $38.93 and its 200 day simple moving average is $42.00.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. As a group, equities research analysts forecast that United States Steel will post 3.02 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, May 10th. This represents a $0.20 annualized dividend and a yield of 0.56%. United States Steel’s dividend payout ratio (DPR) is currently 5.87%.

Institutional Investors Weigh In On United States Steel

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in United States Steel by 308.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock valued at $16,127,000 after acquiring an additional 250,311 shares during the period. FNY Investment Advisers LLC grew its holdings in United States Steel by 16,065.0% in the 4th quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock valued at $1,572,000 after buying an additional 32,130 shares during the last quarter. International Assets Investment Management LLC increased its position in United States Steel by 4,057.9% in the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after buying an additional 729,574 shares during the period. SG Americas Securities LLC lifted its holdings in shares of United States Steel by 1,132.8% during the fourth quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock worth $5,630,000 after buying an additional 106,329 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of United States Steel during the fourth quarter worth approximately $3,045,000. 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.