United States Steel (NYSE:X) Shares Gap Up – Still a Buy?

United States Steel Co. (NYSE:X)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $42.98, but opened at $44.80. United States Steel shares last traded at $43.70, with a volume of 3,025,079 shares.

Wall Street Analysts Forecast Growth

X has been the subject of several analyst reports. Bank of America began coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price for the company. Morgan Stanley boosted their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Jefferies Financial Group lowered their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets upped their price target on shares of United States Steel from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. raised their price target on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Price Performance

The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $38.52 and its 200 day moving average price is $37.19. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities research analysts predict that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio is 13.42%.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in United States Steel by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 216,382 shares of the basic materials company’s stock valued at $7,355,000 after purchasing an additional 3,837 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of United States Steel during the fourth quarter worth approximately $554,000. Forum Financial Management LP raised its stake in shares of United States Steel by 7.5% in the fourth quarter. Forum Financial Management LP now owns 7,051 shares of the basic materials company’s stock valued at $240,000 after acquiring an additional 490 shares during the last quarter. Inspire Trust Co. N.A. acquired a new position in shares of United States Steel in the 4th quarter worth approximately $1,292,000. Finally, Wexford Capital LP grew its position in United States Steel by 193.7% during the 4th quarter. Wexford Capital LP now owns 443,951 shares of the basic materials company’s stock worth $15,090,000 after acquiring an additional 292,811 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

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.