United States Steel (NYSE:X) Price Target Lowered to $40.00 at JPMorgan Chase & Co.

United States Steel (NYSE:X) had its price objective decreased by JPMorgan Chase & Co. from $44.00 to $40.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

X has been the topic of a number of other reports. Jefferies Financial Group dropped their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets cut their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, Bank of America initiated coverage on United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.07.

United States Steel Stock Performance

Shares of United States Steel stock opened at $36.05 on Friday. The business has a 50-day simple moving average of $35.61 and a 200 day simple moving average of $37.19. United States Steel has a one year low of $26.92 and a one year high of $48.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 23.72 and a beta of 1.88.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $1.36 EPS. United States Steel’s quarterly revenue was down 13.0% on a year-over-year basis. On average, research analysts anticipate that United States Steel will post 1.99 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 11th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Hedge Funds Weigh In On United States Steel

Hedge funds have recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in United States Steel during the fourth quarter valued at $30,000. Palouse Capital Management Inc. bought a new stake in shares of United States Steel during the 3rd quarter valued at about $35,000. Gladius Capital Management LP purchased a new position in shares of United States Steel during the third quarter worth about $39,000. GAMMA Investing LLC increased its position in shares of United States Steel by 50.0% in the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 442 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in United States Steel in the third quarter valued at approximately $59,000. 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.