POSCO (NYSE:PKX) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of POSCO (NYSE:PKX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $62.44 and traded as high as $67.48. POSCO shares last traded at $66.7270, with a volume of 568,047 shares changing hands.

Wall Street Analyst Weigh In

PKX has been the topic of several analyst reports. Weiss Ratings upgraded shares of POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of POSCO from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Zacks Research lowered shares of POSCO from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 9th. Finally, UBS Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

POSCO Trading Down 7.9%

The company’s 50-day moving average price is $70.38 and its 200-day moving average price is $62.43. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 36.33 and a beta of 1.52. The company has a quick ratio of 1.29, a current ratio of 1.90 and a debt-to-equity ratio of 0.28.

POSCO (NYSE:PKX) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.12. POSCO had a net margin of 1.19% and a return on equity of 1.34%. The business had revenue of $11.88 billion for the quarter, compared to analyst estimates of $11.75 billion. Equities analysts expect that POSCO will post 4.56 EPS for the current fiscal year.

Institutional Trading of POSCO

Several institutional investors have recently modified their holdings of PKX. AQR Capital Management LLC grew its position in shares of POSCO by 8.3% in the first quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company’s stock valued at $307,000 after purchasing an additional 495 shares during the period. Goldman Sachs Group Inc. boosted its position in POSCO by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock worth $20,117,000 after acquiring an additional 154,100 shares during the last quarter. Quantinno Capital Management LP boosted its position in POSCO by 59.2% during the second quarter. Quantinno Capital Management LP now owns 49,505 shares of the basic materials company’s stock worth $2,401,000 after acquiring an additional 18,403 shares during the last quarter. Raymond James Financial Inc. acquired a new position in POSCO during the second quarter worth about $95,000. Finally, BNP Paribas Financial Markets boosted its position in POSCO by 8.0% during the second quarter. BNP Paribas Financial Markets now owns 259,374 shares of the basic materials company’s stock worth $12,577,000 after acquiring an additional 19,312 shares during the last quarter.

POSCO Company Profile

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.