United States Steel (NYSE:X) Price Target Increased to $21.50 by Analysts at Morgan Stanley

United States Steel (NYSE:XGet Rating) had its target price hoisted by Morgan Stanley from $20.00 to $21.50 in a research note issued to investors on Monday morning, Stock Target Advisor reports. They currently have an equal weight rating on the basic materials company’s stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price target on United States Steel from $34.00 to $28.00 and set an underweight rating on the stock in a report on Tuesday, June 14th. BMO Capital Markets lowered their target price on United States Steel from $30.00 to $23.00 in a research report on Friday, June 17th. UBS Group set a $23.00 target price on United States Steel in a research report on Monday, June 20th. StockNews.com downgraded United States Steel from a buy rating to a hold rating in a research report on Friday. Finally, The Goldman Sachs Group lowered their target price on United States Steel from $36.00 to $22.00 and set a sell rating on the stock in a research report on Tuesday, May 31st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $29.05.

United States Steel Stock Performance

X stock opened at $23.80 on Monday. The business’s 50-day moving average price is $20.87 and its two-hundred day moving average price is $26.13. The company has a current ratio of 1.98, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market cap of $6.20 billion, a PE ratio of 1.39 and a beta of 2.16. United States Steel has a 1-year low of $16.41 and a 1-year high of $39.25.

United States Steel (NYSE:XGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The basic materials company reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.01. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $5.82 billion. United States Steel had a return on equity of 49.21% and a net margin of 21.59%. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.37 earnings per share. As a group, research analysts forecast that United States Steel will post 10.91 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Monday, August 8th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. United States Steel’s dividend payout ratio (DPR) is currently 1.17%.

United States Steel declared that its Board of Directors has authorized a share buyback program on Thursday, July 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On United States Steel

A number of large investors have recently made changes to their positions in X. North Star Investment Management Corp. increased its stake in shares of United States Steel by 2,000.0% during the fourth quarter. North Star Investment Management Corp. now owns 1,050 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 1,000 shares during the period. Byrne Asset Management LLC acquired a new stake in United States Steel during the fourth quarter worth approximately $26,000. Rational Advisors LLC acquired a new stake in United States Steel during the fourth quarter worth approximately $27,000. Rocky Mountain Advisers LLC grew its position in United States Steel by 80.0% during the second quarter. Rocky Mountain Advisers LLC now owns 1,800 shares of the basic materials company’s stock worth $32,000 after buying an additional 800 shares in the last quarter. Finally, Norwood Financial Corp acquired a new stake in United States Steel during the fourth quarter worth approximately $36,000. Institutional investors own 72.56% of the company’s stock.

About United States Steel

(Get Rating)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.

Further Reading

Analyst Recommendations for United States Steel (NYSE:X)

Want More Great Investing Ideas?

Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.