United States Steel (X) Upgraded by Citigroup to “Buy”

Citigroup upgraded shares of United States Steel (NYSE:X) from a neutral rating to a buy rating in a research note released on Monday, MarketBeat reports. They currently have $47.64 price target on the basic materials company’s stock, up from their previous price target of $18.55.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets upped their price target on shares of United States Steel to $40.00 and gave the stock a market perform rating in a research note on Friday, February 2nd. Morgan Stanley lowered their target price on shares of United States Steel from $46.00 to $42.00 and set an overweight rating on the stock in a research note on Tuesday, February 6th. Credit Suisse Group upped their target price on shares of United States Steel from $34.00 to $48.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Axiom Securities upgraded shares of United States Steel from a sell rating to a hold rating and lowered their target price for the company from $41.83 to $18.55 in a research note on Monday, December 11th. Finally, Goldman Sachs started coverage on shares of United States Steel in a research note on Tuesday, March 20th. They set a neutral rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $40.11.

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Shares of United States Steel stock opened at $36.61 on Monday. The stock has a market capitalization of $6,155.91, a P/E ratio of 18.87, a PEG ratio of 0.94 and a beta of 2.97. United States Steel has a 1 year low of $18.55 and a 1 year high of $47.64. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.81.

United States Steel (NYSE:X) last announced its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.09. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.10 billion. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. United States Steel’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. analysts expect that United States Steel will post 4.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date was Thursday, February 8th. United States Steel’s dividend payout ratio is currently 10.31%.

In other news, VP Sara A. Greenstein sold 2,757 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.05, for a total transaction of $124,202.85. Following the completion of the sale, the vice president now owns 35,282 shares of the company’s stock, valued at approximately $1,589,454.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David B. Burritt sold 6,936 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $39.95, for a total transaction of $277,093.20. Following the sale, the chief executive officer now directly owns 179,567 shares of the company’s stock, valued at approximately $7,173,701.65. The disclosure for this sale can be found here. Insiders have sold a total of 114,895 shares of company stock valued at $4,742,234 in the last ninety days. Insiders own 1.01% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of United States Steel by 0.8% during the 4th quarter. BlackRock Inc. now owns 14,848,328 shares of the basic materials company’s stock valued at $522,514,000 after purchasing an additional 116,386 shares during the last quarter. Slate Path Capital LP increased its position in shares of United States Steel by 47.1% during the 4th quarter. Slate Path Capital LP now owns 3,280,000 shares of the basic materials company’s stock valued at $115,423,000 after purchasing an additional 1,050,000 shares during the last quarter. Millennium Management LLC increased its position in shares of United States Steel by 23,428.9% during the 4th quarter. Millennium Management LLC now owns 2,210,301 shares of the basic materials company’s stock valued at $77,780,000 after purchasing an additional 2,200,907 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of United States Steel by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,023,402 shares of the basic materials company’s stock valued at $71,203,000 after purchasing an additional 53,069 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of United States Steel by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,477,929 shares of the basic materials company’s stock valued at $52,008,000 after purchasing an additional 23,879 shares during the last quarter. 68.27% of the stock is owned by hedge funds and other institutional investors.

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United States Steel Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Analyst Recommendations for United States Steel (NYSE:X)

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