United States Steel Co. (NYSE:X) Receives $38.78 Average Target Price from Analysts

Shares of United States Steel Co. (NYSE:X) have been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.38.

X has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Jefferies Financial Group initiated coverage on United States Steel in a report on Monday, May 20th. They issued a “buy” rating and a $45.00 price objective on the stock. StockNews.com initiated coverage on United States Steel in a report on Wednesday. They issued a “hold” rating on the stock. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. 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.

United States Steel Trading Down 1.5 %

Shares of NYSE:X opened at $38.19 on Thursday. The business’s 50-day moving average is $37.46 and its 200 day moving average is $42.01. United States Steel has a 1 year low of $22.26 and a 1 year high of $50.20. The firm has a market capitalization of $8.59 billion, a P/E ratio of 11.20 and a beta of 1.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14.

United States Steel (NYSE:X) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. On average, research analysts predict that United States Steel will post 2.6 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. United States Steel’s payout ratio is 5.87%.

Hedge Funds Weigh In On United States Steel

Hedge funds have recently bought and sold shares of the business. Byrne Asset Management LLC boosted its position in United States Steel by 1,140.0% during the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of United States Steel in the fourth quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in shares of United States Steel in the first quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new position in shares of United States Steel in the fourth quarter valued at approximately $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of United States Steel in the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Company Profile

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.