POSCO (NYSE:PKX) Shares Gap Down – What’s Next?

POSCO (NYSE:PKX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $91.72, but opened at $87.75. POSCO shares last traded at $87.35, with a volume of 21,981 shares.

Wall Street Analysts Forecast Growth

PKX has been the subject of several research reports. Weiss Ratings upgraded POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Zacks Research lowered POSCO from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 9th. Finally, UBS Group upgraded POSCO from a “neutral” rating to a “buy” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

POSCO Trading Down 3.6%

The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 52.31 and a beta of 1.58. The company has a fifty day moving average price of $64.28 and a two-hundred day moving average price of $59.37.

POSCO (NYSE:PKX) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.12. The business had revenue of $11.88 billion for the quarter, compared to analysts’ expectations of $11.75 billion. POSCO had a return on equity of 1.35% and a net margin of 1.19%. As a group, equities research analysts expect that POSCO will post 4.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PKX. Xponance LLC raised its position in shares of POSCO by 4.3% during the 4th quarter. Xponance LLC now owns 4,433 shares of the basic materials company’s stock valued at $236,000 after buying an additional 181 shares during the period. Parallel Advisors LLC raised its position in shares of POSCO by 4.5% during the 3rd quarter. Parallel Advisors LLC now owns 4,863 shares of the basic materials company’s stock valued at $239,000 after buying an additional 211 shares during the period. Allworth Financial LP raised its position in shares of POSCO by 51.6% during the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after buying an additional 232 shares during the period. PDS Planning Inc raised its position in POSCO by 4.6% in the fourth quarter. PDS Planning Inc now owns 6,430 shares of the basic materials company’s stock valued at $342,000 after purchasing an additional 283 shares during the period. Finally, Brooklyn Investment Group raised its position in POSCO by 5.3% in the fourth quarter. Brooklyn Investment Group now owns 5,636 shares of the basic materials company’s stock valued at $306,000 after purchasing an additional 285 shares during the period.

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.