United States Steel (NYSE:X) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of United States Steel (NYSE:X) in a research report report published on Thursday. The brokerage issued a hold rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on the company. Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 price target for the company in a research note on Tuesday, April 9th. Morgan Stanley raised shares of United States Steel from an equal weight rating to an overweight rating and cut their target price for the company from $51.00 to $48.00 in a research note on Monday, May 6th. BMO Capital Markets dropped their price objective on shares of United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a report on Tuesday, March 19th. Jefferies Financial Group began coverage on United States Steel in a research report on Monday. They set a buy rating and a $45.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $38.78.

United States Steel Trading Down 0.8 %

Shares of United States Steel stock opened at $35.93 on Thursday. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20. The company’s fifty day simple moving average is $38.99 and its 200-day simple moving average is $41.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The stock has a market capitalization of $8.08 billion, a PE ratio of 10.54 and a beta of 2.06.

United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. As a group, equities analysts anticipate that United States Steel will post 2.99 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is 5.87%.

Institutional Investors Weigh In On United States Steel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Byrne Asset Management LLC lifted its position in shares of United States Steel by 1,140.0% during the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 570 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in United States Steel during the 4th quarter valued at about $25,000. Riverview Trust Co bought a new stake in United States Steel during the 1st quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in United States Steel in the 4th quarter valued at about $33,000. Finally, Fifth Third Bancorp grew its stake in United States Steel by 60.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About United States Steel

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.