United States Steel (NYSE:X) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts also recently commented on X. Morgan Stanley raised United States Steel from an equal weight rating to an overweight rating and dropped their target price for the stock from $51.00 to $48.00 in a report on Monday, May 6th. Jefferies Financial Group began coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a buy rating and a $45.00 price target on the stock. Wolfe Research upgraded shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. BMO Capital Markets upgraded shares of United States Steel from a market perform rating to an outperform rating and upped their target price for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of United States Steel from $43.00 to $40.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $40.00.

United States Steel Price Performance

X opened at $40.72 on Friday. The stock’s 50 day moving average price is $37.80 and its 200-day moving average price is $41.24. United States Steel has a 52-week low of $22.26 and a 52-week high of $50.20. The stock has a market capitalization of $9.16 billion, a PE ratio of 11.94 and a beta of 1.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. On average, equities research analysts predict that United States Steel will post 2.38 EPS for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio is currently 5.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of United States Steel in the fourth quarter worth about $25,000. Byrne Asset Management LLC boosted its position in shares of United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 570 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of United States Steel in the fourth quarter valued at $33,000. Riverview Trust Co purchased a new position in shares of United States Steel in the first quarter valued at $29,000. Finally, Pineridge Advisors LLC purchased a new stake in United States Steel during the fourth quarter valued at $44,000. 81.92% of the stock is currently owned by institutional investors.

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.