POSCO (NYSE:PKX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

POSCO (NYSE:PKX) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.63 and traded as high as $58.35. POSCO shares last traded at $57.53, with a volume of 240,040 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of POSCO in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

POSCO Stock Performance

The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 42.35, a P/E/G ratio of 0.31 and a beta of 1.43. The firm’s 50-day moving average is $62.07 and its two-hundred day moving average is $55.67. The company has a current ratio of 1.88, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.45 by ($1.06). The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $11.85 billion. POSCO had a return on equity of 1.09% and a net margin of 0.97%. As a group, sell-side analysts expect that POSCO will post 3.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in POSCO during the 4th quarter worth $25,000. Founders Capital Management raised its position in shares of POSCO by 100.0% in the third quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP lifted its stake in shares of POSCO by 51.6% in the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after buying an additional 232 shares in the last quarter. Headlands Technologies LLC boosted its position in POSCO by 1,276.9% during the second quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,328 shares during the last quarter. Finally, MAI Capital Management purchased a new stake in POSCO during the 2nd quarter valued at about $73,000.

About POSCO

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.