POSCO (NYSE:PKX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of POSCO (NYSE:PKX) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

PKX has been the topic of a number of other research reports. Weiss Ratings upgraded shares of POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. UBS Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded shares of POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

POSCO Price Performance

POSCO stock opened at $60.45 on Monday. POSCO has a 12-month low of $44.99 and a 12-month high of $92.40. The stock has a market capitalization of $18.28 billion, a P/E ratio of 35.77 and a beta of 1.52. The firm’s 50-day moving average is $70.54 and its two-hundred day moving average is $62.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.90 and a quick ratio of 1.30.

POSCO (NYSE:PKX) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.12. POSCO had a net margin of 1.19% and a return on equity of 1.34%. The business had revenue of $11.88 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Equities analysts predict that POSCO will post 4.56 earnings per share for the current year.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of POSCO during the fourth quarter valued at $25,000. Founders Capital Management boosted its holdings in shares of POSCO by 100.0% during the third quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Allworth Financial LP boosted its holdings in shares of POSCO by 51.6% during the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 232 shares during the period. Headlands Technologies LLC boosted its holdings in shares of POSCO by 1,276.9% during the second quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,328 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of POSCO during the fourth quarter valued at $85,000.

POSCO Company Profile

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.