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

Analysts at StockNews.com began coverage on shares of United States Steel (NYSE:X) in a report released on Friday. The firm set a “hold” rating on the basic materials company’s stock.

X has been the topic of several other reports. JPMorgan Chase & Co. lowered their target price on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research note on Tuesday, April 9th. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and increased their price target for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $51.00 to $48.00 in a research report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.00.

United States Steel Trading Up 0.3 %

Shares of X stock opened at $40.75 on Friday. The company has a market capitalization of $9.16 billion, a P/E ratio of 11.95 and a beta of 1.93. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $37.80 and its two-hundred day moving average is $41.19. United States Steel has a twelve month low of $22.26 and a twelve month high of $50.20.

United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Equities analysts forecast that United States Steel will post 2.38 EPS for the current year.

Institutional Investors Weigh In On United States Steel

Several hedge funds and other institutional investors have recently bought and sold shares of X. Norges Bank acquired a new position in United States Steel in the fourth quarter worth about $200,952,000. KRYGER CAPITAL Ltd bought a new stake in United States Steel in the 4th quarter valued at about $95,529,000. Segantii Capital Management Ltd bought a new position in United States Steel in the 4th quarter worth approximately $68,840,000. Bank of Nova Scotia acquired a new stake in shares of United States Steel in the 4th quarter worth approximately $53,338,000. Finally, ING Groep NV bought a new position in United States Steel during the fourth quarter valued at about $49,769,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.