Vetr lowered shares of United States Steel (NYSE:X) from a buy rating to a hold rating in a research report released on Monday, March 19th. The brokerage currently has $40.74 price objective on the basic materials company’s stock.
A number of other brokerages have also commented on X. Bank of America lowered shares of United States Steel from a buy rating to a neutral rating and set a $50.00 price objective on the stock. in a report on Friday, March 2nd. JPMorgan Chase lifted their price target on shares of United States Steel from $48.00 to $69.00 in a research note on Friday, March 9th. Argus reissued a buy rating and issued a $52.00 price objective (up previously from $41.00) on shares of United States Steel in a research report on Wednesday, February 21st. ValuEngine raised shares of United States Steel from a buy rating to a strong-buy rating in a research report on Thursday, March 1st. Finally, Vertical Group downgraded shares of United States Steel from a hold rating to a sell rating in a report on Tuesday, March 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $40.11.
NYSE:X traded up $1.14 during mid-day trading on Monday, hitting $35.88. The company’s stock had a trading volume of 10,111,552 shares, compared to its average volume of 13,655,257. The firm has a market capitalization of $6,310.69, a PE ratio of 18.49, a price-to-earnings-growth ratio of 0.90 and a beta of 2.97. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. United States Steel has a fifty-two week low of $18.55 and a fifty-two week high of $47.64.
United States Steel (NYSE:X) last posted its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.09. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. research analysts expect that United States Steel will post 4.98 EPS for the current year.
In related news, CEO David B. Burritt sold 6,936 shares of the firm’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 completion of the sale, the chief executive officer now owns 179,567 shares in the company, valued at $7,173,701.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David J. Rintoul sold 10,000 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the vice president now owns 35,809 shares of the company’s stock, valued at approximately $1,432,360. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,895 shares of company stock valued at $4,742,234. 1.01% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in X. Chemical Bank purchased a new stake in United States Steel in the fourth quarter valued at approximately $208,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of United States Steel by 24.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 73,221 shares of the basic materials company’s stock worth $2,577,000 after acquiring an additional 14,617 shares in the last quarter. Fairfield Bush & CO. purchased a new position in shares of United States Steel during the fourth quarter worth approximately $211,000. We Are One Seven LLC purchased a new position in shares of United States Steel during the fourth quarter worth approximately $132,000. Finally, Banco de Sabadell S.A purchased a new position in shares of United States Steel during the fourth quarter worth approximately $100,000. Institutional investors own 68.28% of the company’s stock.
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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).
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