Shares of United States Steel Co. (NYSE:X) gapped down before the market opened on Tuesday . The stock had previously closed at $13.68, but opened at $13.29. United States Steel shares last traded at $12.96, with a volume of 9,879,683 shares.

A number of brokerages have recently issued reports on X. Goldman Sachs Group lowered shares of United States Steel from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $17.00 to $11.00 in a research report on Tuesday, June 4th. Barclays initiated coverage on shares of United States Steel in a report on Friday, September 6th. They issued an “overweight” rating on the stock. Vertical Group upgraded shares of United States Steel from a “sell” rating to a “buy” rating in a report on Wednesday, June 19th. Deutsche Bank lowered shares of United States Steel from a “hold” rating to a “sell” rating and set a $12.64 price objective on the stock. in a report on Thursday, May 30th. Finally, ValuEngine lowered shares of United States Steel from a “sell” rating to a “strong sell” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.94.

The company’s 50-day moving average price is $12.14 and its 200-day moving average price is $15.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.41 and a quick ratio of 0.74. The company has a market cap of $2.24 billion, a P/E ratio of 2.42, a P/E/G ratio of 2.40 and a beta of 3.02.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that United States Steel Co. will post 0.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, August 13th. United States Steel’s dividend payout ratio (DPR) is currently 3.73%.

A number of institutional investors have recently added to or reduced their stakes in X. Point72 Asset Management L.P. grew its position in United States Steel by 11,651.5% in the second quarter. Point72 Asset Management L.P. now owns 1,261,286 shares of the basic materials company’s stock valued at $19,310,000 after purchasing an additional 1,250,553 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of United States Steel by 402.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,475,957 shares of the basic materials company’s stock valued at $22,597,000 after acquiring an additional 1,181,957 shares during the period. AQR Capital Management LLC grew its position in shares of United States Steel by 808.3% in the 2nd quarter. AQR Capital Management LLC now owns 961,770 shares of the basic materials company’s stock valued at $14,465,000 after acquiring an additional 855,884 shares during the period. BlackRock Inc. grew its position in shares of United States Steel by 5.4% in the 1st quarter. BlackRock Inc. now owns 16,577,232 shares of the basic materials company’s stock valued at $323,090,000 after acquiring an additional 846,135 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of United States Steel in the 1st quarter valued at about $15,786,000. 60.77% of the stock is owned by institutional investors and hedge funds.

United States Steel Company Profile (NYSE:X)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), 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 all iron ore and coke.

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