JPMorgan Chase & Co. Has Lowered Expectations for United States Steel (NYSE:X) Stock Price

United States Steel (NYSE:X) had its price target lowered by research analysts at JPMorgan Chase & Co. from $44.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.78% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group decreased their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets dropped their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Finally, Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.07.

United States Steel Trading Up 0.9 %

Shares of United States Steel stock traded up $0.31 during trading on Friday, reaching $36.11. 199,956 shares of the company were exchanged, compared to its average volume of 11,236,251. The business has a 50-day moving average price of $35.71 and a 200-day moving average price of $37.20. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 23.83 and a beta of 1.88. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. United States Steel has a twelve month low of $26.92 and a twelve month high of $48.85.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. United States Steel’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. Sell-side analysts anticipate that United States Steel will post 1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of X. ARS Investment Partners LLC acquired a new stake in United States Steel in the fourth quarter valued at approximately $15,510,000. Polianta Ltd increased its stake in United States Steel by 26.4% during the 4th quarter. Polianta Ltd now owns 39,300 shares of the basic materials company’s stock valued at $1,335,000 after purchasing an additional 8,200 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in United States Steel by 16.1% during the fourth quarter. Arkadios Wealth Advisors now owns 21,635 shares of the basic materials company’s stock worth $735,000 after buying an additional 3,000 shares during the last quarter. Empirical Asset Management LLC bought a new position in shares of United States Steel in the fourth quarter valued at $525,000. Finally, Sanders Morris Harris LLC grew its holdings in shares of United States Steel by 104.1% during the fourth quarter. Sanders Morris Harris LLC now owns 50,984 shares of the basic materials company’s stock valued at $1,653,000 after buying an additional 26,000 shares during the last quarter. 81.92% of the stock is 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.