POSCO (NYSE:PKX) Downgraded by Zacks Research to Hold

POSCO (NYSE:PKX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

A number of other research firms have also recently commented on PKX. Weiss Ratings upgraded shares of POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, September 25th. Wall Street Zen raised shares of POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

POSCO Stock Performance

Shares of PKX opened at $56.33 on Tuesday. The business has a 50-day simple moving average of $57.88 and a two-hundred day simple moving average of $61.56. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30. POSCO has a 52 week low of $44.99 and a 52 week high of $92.40. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 21.34 and a beta of 1.60.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.45. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.96 billion. POSCO had a return on equity of 1.99% and a net margin of 1.79%. On average, analysts expect that POSCO will post 4.91 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Keybank National Association OH purchased a new stake in POSCO during the 1st quarter valued at approximately $200,000. MW Advisory LLC purchased a new position in shares of POSCO in the second quarter worth $214,000. QRG Capital Management Inc. purchased a new position in shares of POSCO in the first quarter worth $219,000. Allspring Global Investments Holdings LLC bought a new position in shares of POSCO during the first quarter worth $222,000. Finally, HB Wealth Management LLC purchased a new position in POSCO during the first quarter valued at $285,000.

POSCO Company Profile

POSCO is a South Korean steel producer that manufactures and sells a broad range of steel products for the automotive, shipbuilding, construction, energy, and general manufacturing industries. Its product portfolio includes hot- and cold-rolled steel, galvanized and electrical steel, stainless steel, wire rod, plates, and other specialty materials.

The company operates major integrated steel facilities in Pohang and Gwangyang, South Korea, and serves customers in domestic and international markets.