United States Steel (NYSE:X) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of United States Steel (NYSE:X) in a report published on Friday. The firm issued a hold rating on the basic materials company’s stock.

A number of other research analysts have also recently weighed in on X. JPMorgan Chase & Co. dropped their target price on shares of United States Steel from $43.00 to $40.00 and set a neutral rating on the stock in a research note on Tuesday, July 16th. Morgan Stanley upgraded shares of United States Steel from an equal weight rating to an overweight rating and dropped their target price for the company from $51.00 to $48.00 in a research note on Monday, May 6th. Wolfe Research upgraded shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. Jefferies Financial Group assumed coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a buy rating and a $45.00 target price on the stock. Finally, BMO Capital Markets upgraded shares of United States Steel from a market perform rating to an outperform rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, United States Steel currently has a consensus rating of Hold and a consensus target price of $40.00.

United States Steel Stock Up 0.3 %

United States Steel stock opened at $40.75 on Friday. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20. The stock has a market cap of $9.16 billion, a PE ratio of 11.95 and a beta of 1.93. The firm’s 50-day simple moving average is $37.80 and its 200 day simple moving average is $41.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. Research analysts predict that United States Steel will post 2.38 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is currently 5.87%.

Institutional Trading of United States Steel

Hedge funds and other institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC increased its holdings in United States Steel by 1,140.0% during the 1st 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 period. Pacific Capital Wealth Advisors Inc. bought a new stake in United States Steel during the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new stake in United States Steel during the 1st quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in United States Steel during the 4th quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in United States Steel during the 1st quarter worth approximately $41,000. Institutional investors own 81.92% of the company’s stock.

About United States Steel

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.