United States Steel (NYSE:X) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of United States Steel (NYSE:X) in a report released on Monday morning. The firm issued a hold rating on the basic materials company’s stock.

Several other equities research analysts have also recently commented on X. BMO Capital Markets lowered their target price on United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a research note on Tuesday, March 19th. Morgan Stanley downgraded shares of United States Steel from an overweight rating to an equal weight rating and upped their target price for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. initiated coverage on shares of United States Steel in a research report on Friday, January 12th. They set a neutral rating and a $52.00 price target for the company. Finally, Wolfe Research upgraded shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective on the stock in a report on Tuesday, April 9th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $37.89.

United States Steel Stock Performance

Shares of NYSE:X opened at $36.98 on Monday. The business has a fifty day moving average of $42.26 and a 200-day moving average of $41.47. The firm has a market cap of $8.31 billion, a PE ratio of 10.54 and a beta of 2.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76. United States Steel has a twelve month low of $20.40 and a twelve month high of $50.20.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, equities research analysts predict that United States Steel will post 2.99 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. United States Steel’s dividend payout ratio is 5.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $25,000. Byrne Asset Management LLC lifted its position in United States Steel by 1,140.0% in the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 570 shares in the last quarter. GAMMA Investing LLC acquired a new position in United States Steel in the 4th quarter worth $33,000. Riverview Trust Co bought a new position in United States Steel during the 1st quarter worth about $29,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of United States Steel in the 4th quarter valued at about $44,000. 81.92% of the stock is currently owned by institutional investors.

About United States Steel

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.