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 released on Tuesday morning. The firm issued a hold rating on the basic materials company’s stock.

Several other equities research analysts have also commented on X. Jefferies Financial Group initiated coverage on shares of United States Steel in a research note on Monday, May 20th. They set a buy rating and a $45.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. BMO Capital Markets upgraded shares of United States Steel from a market perform rating to an outperform rating and lifted their price target for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Wolfe Research upgraded shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 price target on the stock in a research note on Tuesday, April 9th. Finally, Morgan Stanley upgraded shares of United States Steel from an equal weight rating to an overweight rating and cut their price target for the stock from $51.00 to $48.00 in a research note on Monday, May 6th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $38.78.

United States Steel Price Performance

Shares of X opened at $38.33 on Tuesday. United States Steel has a twelve month low of $22.26 and a twelve month high of $50.20. The firm’s fifty day simple moving average is $37.25 and its 200-day simple moving average is $42.33. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 11.24 and a beta of 1.93. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. Equities analysts forecast that United States Steel will post 2.66 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Hedge Funds Weigh In On United States Steel

Several institutional investors have recently added to or reduced their stakes in X. Norges Bank purchased a new stake in United States Steel in the 4th quarter valued at approximately $200,952,000. KRYGER CAPITAL Ltd purchased a new stake in United States Steel in the 4th quarter valued at approximately $95,529,000. Segantii Capital Management Ltd purchased a new stake in United States Steel in the 4th quarter valued at approximately $68,840,000. Bank of Nova Scotia purchased a new stake in United States Steel in the 4th quarter valued at approximately $53,338,000. Finally, ING Groep NV purchased a new stake in shares of United States Steel during the 4th quarter worth approximately $49,769,000. 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.