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

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

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

United States Steel Trading Down 3.5 %

Shares of NYSE:X opened at $36.60 on Friday. United States Steel has a 52 week low of $20.40 and a 52 week high of $50.20. The company’s 50 day moving average is $42.78 and its two-hundred day moving average is $41.33. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.23 billion, a PE ratio of 10.43 and a beta of 2.00.

United States Steel (NYSE:X) last posted its earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.46. The firm had revenue of $4.14 billion for 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 last year, the firm posted $0.87 EPS. Equities analysts predict that United States Steel will post 2.99 earnings per share 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. Investors of record on Monday, February 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s dividend payout ratio is currently 5.70%.

Institutional Investors Weigh In On United States Steel

Several institutional investors and hedge funds have recently made changes to their positions in X. Pacific Capital Wealth Advisors Inc. bought a new position in United States Steel during the 4th quarter worth $25,000. Byrne Asset Management LLC grew its stake in shares of United States Steel by 1,140.0% in the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of United States Steel in the fourth quarter worth $33,000. Riverview Trust Co bought a new position in shares of United States Steel in the first quarter worth $29,000. Finally, Pineridge Advisors LLC bought a new position in shares of United States Steel in the fourth quarter worth $44,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Company Profile

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.