United States Steel (NYSE:X) Given New $40.00 Price Target at BMO Capital Markets

United States Steel (NYSE:X) had its price objective reduced by equities researchers at BMO Capital Markets from $43.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 32.71% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research note on Monday, September 9th. Jefferies Financial Group lowered their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.37.

United States Steel Price Performance

Shares of NYSE X opened at $30.14 on Friday. The firm has a market cap of $6.79 billion, a P/E ratio of 19.83 and a beta of 1.83. The business’s 50 day moving average is $37.88 and its 200-day moving average is $37.73. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. United States Steel has a 1-year low of $26.92 and a 1-year high of $48.95.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS. Equities research analysts predict that United States Steel will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its holdings in shares of United States Steel by 27.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 55,904 shares of the basic materials company’s stock valued at $1,963,000 after acquiring an additional 11,905 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of United States Steel during the third quarter valued at about $883,000. Wilmington Savings Fund Society FSB bought a new stake in shares of United States Steel during the third quarter worth about $59,000. Sanctuary Advisors LLC increased its stake in shares of United States Steel by 17.5% in the third quarter. Sanctuary Advisors LLC now owns 15,416 shares of the basic materials company’s stock valued at $602,000 after buying an additional 2,300 shares during the period. Finally, Geode Capital Management LLC raised its holdings in United States Steel by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after buying an additional 37,528 shares during 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.