United States Steel Co. (NYSE:X) Receives $8.40 Consensus Price Target from Brokerages

Shares of United States Steel Co. (NYSE:X) have been assigned an average rating of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.40.

A number of research firms have weighed in on X. KeyCorp reissued a “hold” rating on shares of United States Steel in a report on Thursday, June 18th. BMO Capital Markets cut their price objective on shares of United States Steel from $9.00 to $6.00 and set a “market perform” rating on the stock in a report on Monday, March 23rd. raised shares of United States Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 9th. ValuEngine raised shares of United States Steel from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 3rd. Finally, UBS Group cut their price objective on shares of United States Steel from $7.00 to $4.00 and set a “sell” rating on the stock in a report on Thursday, May 14th.

United States Steel stock traded down $0.42 during trading on Friday, reaching $7.16. The stock had a trading volume of 43,056,637 shares, compared to its average volume of 18,962,066. United States Steel has a 52-week low of $4.54 and a 52-week high of $15.90. The business has a 50 day moving average price of $8.44 and a 200 day moving average price of $8.72. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 1.29. The stock has a market cap of $1.22 billion, a PE ratio of -1.12 and a beta of 2.60.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. United States Steel had a negative net margin of 8.92% and a negative return on equity of 4.63%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was down 21.5% on a year-over-year basis. On average, equities analysts predict that United States Steel will post -5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.56%. United States Steel’s dividend payout ratio (DPR) is 44.44%.

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in United States Steel by 20.5% in the 4th quarter. Renaissance Technologies LLC now owns 8,534,700 shares of the basic materials company’s stock valued at $97,381,000 after buying an additional 1,449,400 shares during the last quarter. State Street Corp boosted its position in shares of United States Steel by 6.1% during the 4th quarter. State Street Corp now owns 6,147,268 shares of the basic materials company’s stock worth $70,140,000 after purchasing an additional 352,502 shares in the last quarter. Morgan Stanley boosted its position in shares of United States Steel by 94.0% during the 1st quarter. Morgan Stanley now owns 5,381,111 shares of the basic materials company’s stock worth $33,956,000 after purchasing an additional 2,607,633 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of United States Steel by 10.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,457,441 shares of the basic materials company’s stock worth $28,038,000 after purchasing an additional 241,406 shares in the last quarter. Finally, Luminus Management LLC purchased a new stake in shares of United States Steel during the 1st quarter worth $12,433,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

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Analyst Recommendations for United States Steel (NYSE:X)

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