United States Steel Co. (NYSE:X – Get Rating) has earned an average rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.61.
X has been the subject of several recent research reports. The Goldman Sachs Group lowered 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. BMO Capital Markets lowered their price target on shares of United States Steel from $30.00 to $23.00 in a research report on Friday, June 17th. JPMorgan Chase & Co. lowered their price target on shares of United States Steel from $34.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, June 14th. StockNews.com lowered shares of United States Steel from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Morgan Stanley upped their price target on shares of United States Steel from $20.00 to $21.50 and gave the stock an “equal weight” rating in a research report on Monday, August 1st.
Institutional Investors Weigh In On United States Steel
Institutional investors and hedge funds have recently bought and sold shares of the business. Byrne Asset Management LLC acquired a new stake in United States Steel in the 4th quarter valued at about $26,000. Rocky Mountain Advisers LLC lifted its holdings in United States Steel by 80.0% in the 2nd quarter. Rocky Mountain Advisers LLC now owns 1,800 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 800 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in United States Steel in the 1st quarter valued at about $36,000. Avion Wealth purchased a new stake in United States Steel during the second quarter valued at about $36,000. Finally, Fortitude Advisory Group L.L.C. purchased a new stake in United States Steel during the first quarter valued at about $38,000. 79.08% of the stock is owned by institutional investors and hedge funds.
United States Steel Stock Down 0.9 %
United States Steel (NYSE:X – Get Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.01. United States Steel had a net margin of 21.59% and a return on equity of 49.21%. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm earned $3.37 earnings per share. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. Research analysts predict that United States Steel will post 9.92 EPS for the current year.
United States Steel Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Monday, August 8th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, August 5th. United States Steel’s payout ratio is currently 1.17%.
United States Steel announced that its board has authorized a stock repurchase program on Thursday, July 28th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
About United States Steel
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.
- Get a free copy of the StockNews.com research report on United States Steel (X)
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