StockNews.com Begins Coverage on United States Steel (NYSE:X)

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

A number of other analysts have also recently issued reports on X. BMO Capital Markets cut their target price on shares of 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 raised their price objective for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. started coverage on United States Steel in a report on Friday, January 12th. They set a neutral rating and a $52.00 price objective 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 objective on the stock in a report on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $37.89.

United States Steel Stock Performance

X opened at $36.98 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. United States Steel has a 12-month low of $20.40 and a 12-month high of $50.20. The business has a 50 day moving average of $41.89 and a 200-day moving average of $41.46. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 10.54 and a beta of 2.00.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Byrne Asset Management LLC boosted its position in shares of United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 570 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in United States Steel during the fourth quarter worth $25,000. Riverview Trust Co bought a new stake in United States Steel during the first quarter worth $29,000. Wolff Wiese Magana LLC boosted its holdings in shares of United States Steel by 181.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 635 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of United States Steel in the 4th quarter valued at $33,000. 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.