United States Steel (X) Cut to Sell at Deutsche Bank

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Deutsche Bank lowered shares of United States Steel (NYSE:X) from a hold rating to a sell rating in a research report released on Thursday, 24/7 WallStreet reports. The firm currently has $12.64 price target on the basic materials company’s stock.

Several other research firms also recently weighed in on X. Bank of America reiterated a buy rating and issued a $31.00 price target (up from $28.00) on shares of United States Steel in a research report on Wednesday, February 27th. Berenberg Bank upgraded shares of United States Steel from a hold rating to a buy rating and set a $30.00 price target on the stock in a research report on Thursday, February 21st. Argus decreased their price target on shares of United States Steel from $30.00 to $6.00 and set a buy rating on the stock in a research report on Friday, February 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of United States Steel from a strong sell rating to a hold rating in a research report on Thursday, April 4th. Finally, Credit Suisse Group downgraded shares of United States Steel from a neutral rating to an underperform rating and decreased their price target for the stock from $21.00 to $13.00 in a research report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. United States Steel has a consensus rating of Hold and a consensus target price of $21.01.

Shares of United States Steel stock opened at $12.21 on Thursday. The company has a market cap of $2.29 billion, a P/E ratio of 2.28, a P/E/G ratio of 1.02 and a beta of 2.69. United States Steel has a twelve month low of $13.16 and a twelve month high of $39.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 1.47.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.30. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.37 billion. United States Steel had a net margin of 7.92% and a return on equity of 24.72%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, research analysts anticipate that United States Steel will post 1.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 annualized dividend and a yield of 1.64%. United States Steel’s payout ratio is presently 3.73%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pennsylvania Trust Co purchased a new stake in shares of United States Steel in the first quarter worth $7,647,000. Pitcairn Co. increased its stake in shares of United States Steel by 8.5% in the fourth quarter. Pitcairn Co. now owns 14,327 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 1,126 shares in the last quarter. South Dakota Investment Council increased its stake in shares of United States Steel by 30.0% in the first quarter. South Dakota Investment Council now owns 350,560 shares of the basic materials company’s stock worth $6,832,000 after purchasing an additional 80,860 shares in the last quarter. LPL Financial LLC increased its stake in shares of United States Steel by 1.2% in the fourth quarter. LPL Financial LLC now owns 217,677 shares of the basic materials company’s stock worth $3,970,000 after purchasing an additional 2,678 shares in the last quarter. Finally, MSD Partners L.P. increased its stake in shares of United States Steel by 12.5% in the fourth quarter. MSD Partners L.P. now owns 902,460 shares of the basic materials company’s stock worth $16,461,000 after purchasing an additional 100,000 shares in the last quarter. 62.68% of the stock is 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. 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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