United States Steel Co. (NYSE:X)’s stock price traded down 1.1% during trading on Monday . The company traded as low as $11.83 and last traded at $11.79, 449,709 shares traded hands during mid-day trading. A decline of 97% from the average session volume of 13,920,946 shares. The stock had previously closed at $11.92.
Several equities analysts have weighed in on X shares. JPMorgan Chase & Co. cut United States Steel from an “overweight” rating to a “neutral” rating and cut their price target for the company from $26.00 to $14.00 in a report on Monday, September 23rd. Barclays started coverage on United States Steel in a research note on Friday, September 6th. They issued an “overweight” rating on the stock. Exane BNP Paribas assumed coverage on United States Steel in a report on Thursday, November 14th. They set an “underperform” rating and a $10.50 price objective on the stock. Cfra downgraded United States Steel from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, Credit Suisse Group cut their target price on shares of United States Steel from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $15.20.
The company has a debt-to-equity ratio of 0.64, a current ratio of 1.42 and a quick ratio of 0.69. The business has a 50-day moving average of $13.31 and a 200-day moving average of $12.88. The company has a market capitalization of $2.02 billion, a P/E ratio of 2.22 and a beta of 3.12.
United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.08. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.04 billion. United States Steel had a net margin of 4.56% and a return on equity of 10.57%. The business’s revenue was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 earnings per share. Sell-side analysts predict that United States Steel Co. will post -0.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 13th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.20 annualized dividend and a yield of 1.68%. United States Steel’s payout ratio is 3.73%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Man Group plc bought a new position in shares of United States Steel in the third quarter worth about $874,000. Voloridge Investment Management LLC lifted its holdings in United States Steel by 20.9% during the 3rd quarter. Voloridge Investment Management LLC now owns 906,350 shares of the basic materials company’s stock valued at $10,468,000 after buying an additional 156,893 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in United States Steel in the 3rd quarter valued at about $134,000. Regal Investment Advisors LLC boosted its position in United States Steel by 10.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 18,817 shares of the basic materials company’s stock valued at $217,000 after buying an additional 1,810 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of United States Steel by 1.3% during the third quarter. California State Teachers Retirement System now owns 287,561 shares of the basic materials company’s stock valued at $3,321,000 after acquiring an additional 3,760 shares in the last quarter. 70.45% of the stock is currently owned by hedge funds and other institutional investors.
About United States Steel (NYSE:X)
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.
