United States Steel Corporation (X) Receives Consensus Rating of “Hold” from Analysts
Shares of United States Steel Corporation (NYSE:X) have received a consensus rating of “Hold” from the twenty-two research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $26.81.
A number of research analysts have issued reports on X shares. Deutsche Bank AG upped their target price on shares of United States Steel Corporation from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Vetr downgraded shares of United States Steel Corporation from a “strong-buy” rating to a “buy” rating and set a $38.38 price target on the stock. in a research report on Tuesday, April 11th. Macquarie upgraded shares of United States Steel Corporation from an “underperform” rating to a “neutral” rating and increased their price target for the company from $23.00 to $30.00 in a research report on Monday, April 24th. Standpoint Research upgraded shares of United States Steel Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, Bank of America Corporation downgraded shares of United States Steel Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, April 26th.
United States Steel Corporation (NYSE X) traded down 1.03% during mid-day trading on Monday, hitting $20.16. 15,679,541 shares of the stock traded hands. United States Steel Corporation has a 12-month low of $14.80 and a 12-month high of $41.83. The stock has a 50 day moving average price of $20.74 and a 200 day moving average price of $31.06. The firm’s market cap is $3.52 billion.
United States Steel Corporation (NYSE:X) last released its earnings results on Tuesday, April 25th. The basic materials company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $1.18. United States Steel Corporation had a negative net margin of 2.63% and a negative return on equity of 3.48%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted ($2.15) earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts expect that United States Steel Corporation will post $1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, May 8th. United States Steel Corporation’s dividend payout ratio is currently -12.20%.
In related news, Director Paul Anthony Mascarenas purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $19.31 per share, with a total value of $28,965.00. Following the completion of the purchase, the director now directly owns 12,377 shares in the company, valued at $238,999.87. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Sutherland purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average cost of $19.96 per share, with a total value of $199,600.00. Following the purchase, the director now owns 98,919 shares of the company’s stock, valued at $1,974,423.24. The disclosure for this purchase can be found here. Insiders have bought 14,000 shares of company stock valued at $278,415 in the last three months. Insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in United States Steel Corporation by 12,021.7% in the first quarter. BlackRock Inc. now owns 14,279,755 shares of the basic materials company’s stock worth $482,799,000 after buying an additional 14,161,952 shares in the last quarter. United States Steel & Carnegie Pension Fund acquired a new position in United States Steel Corporation during the third quarter worth about $70,982,000. Gallagher Fiduciary Advisors LLC acquired a new position in United States Steel Corporation during the fourth quarter worth about $124,238,000. Renaissance Technologies LLC boosted its position in United States Steel Corporation by 68.8% in the fourth quarter. Renaissance Technologies LLC now owns 5,655,000 shares of the basic materials company’s stock worth $186,672,000 after buying an additional 2,305,300 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in United States Steel Corporation by 10.1% in the first quarter. Vanguard Group Inc. now owns 16,743,496 shares of the basic materials company’s stock worth $566,096,000 after buying an additional 1,539,412 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.
About United States Steel Corporation
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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