United States Steel Co. (NYSE:X) Receives Consensus Rating of “Hold” from Analysts

Shares of United States Steel Co. (NYSE:XGet Rating) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $29.05.

X has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on United States Steel from $34.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 14th. The Goldman Sachs Group decreased their target price on shares of United States Steel from $36.00 to $22.00 and set a “sell” rating for the company in a research note on Tuesday, May 31st. Morgan Stanley raised their price objective on shares of United States Steel from $20.00 to $21.50 and gave the company an “equal weight” rating in a research report on Monday. Credit Suisse Group dropped their target price on shares of United States Steel from $49.00 to $44.00 and set an “outperform” rating for the company in a report on Friday, June 17th. Finally, UBS Group set a $23.00 price objective on shares of United States Steel in a research note on Monday, June 20th.

United States Steel Trading Down 1.2 %

Shares of NYSE:X opened at $22.71 on Thursday. United States Steel has a 12-month low of $16.41 and a 12-month high of $39.25. The business’s fifty day simple moving average is $20.80 and its 200-day simple moving average is $26.09. The company has a market capitalization of $5.92 billion, a PE ratio of 1.32 and a beta of 2.16. The company has a current ratio of 1.98, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

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

United States Steel declared that its Board of Directors has authorized a share buyback plan on Thursday, July 28th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Monday, August 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, August 5th. United States Steel’s payout ratio is 1.17%.

Hedge Funds Weigh In On United States Steel

Institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. boosted its position in shares of United States Steel by 2,000.0% in the fourth quarter. North Star Investment Management Corp. now owns 1,050 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 1,000 shares during the period. Byrne Asset Management LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $26,000. Rational Advisors LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $27,000. Rocky Mountain Advisers LLC increased its position in United States Steel by 80.0% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 1,800 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 800 shares during the period. Finally, Norwood Financial Corp bought a new position in shares of United States Steel during the 4th quarter worth approximately $36,000. 72.56% of the stock is currently owned by institutional investors and hedge funds.

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)

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