Morgan Stanley Begins Coverage on POSCO (PKX)

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Morgan Stanley assumed coverage on shares of POSCO (NYSE:PKX) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued a weight rating on the basic materials company’s stock.

A number of other analysts have also issued reports on the company. Zacks Investment Research upgraded POSCO from a sell rating to a hold rating in a report on Monday, September 24th. Goldman Sachs Group lowered POSCO from a buy rating to a neutral rating in a report on Monday, October 8th. Daiwa Capital Markets initiated coverage on POSCO in a report on Monday, September 10th. They issued an outperform rating for the company. Finally, ValuEngine lowered POSCO from a hold rating to a sell rating in a report on Saturday, July 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $98.00.

Shares of NYSE:PKX traded down $1.36 on Wednesday, reaching $58.21. 89,137 shares of the company traded hands, compared to its average volume of 186,865. POSCO has a fifty-two week low of $55.40 and a fifty-two week high of $93.12. The company has a market capitalization of $21.12 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.30 and a beta of 1.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.14 and a current ratio of 1.67.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Tuesday, September 4th. The basic materials company reported $1.56 EPS for the quarter. POSCO had a return on equity of 6.21% and a net margin of 4.77%. The company had revenue of $14.96 billion during the quarter. As a group, research analysts forecast that POSCO will post 9.35 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of POSCO by 118.1% in the second quarter. BlackRock Inc. now owns 884,732 shares of the basic materials company’s stock valued at $65,576,000 after purchasing an additional 479,082 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of POSCO by 3.3% in the second quarter. Northern Trust Corp now owns 692,901 shares of the basic materials company’s stock valued at $51,358,000 after purchasing an additional 22,413 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of POSCO by 2.2% in the second quarter. Bank of America Corp DE now owns 435,235 shares of the basic materials company’s stock valued at $32,261,000 after purchasing an additional 9,556 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of POSCO by 9.4% in the second quarter. Aperio Group LLC now owns 286,541 shares of the basic materials company’s stock valued at $21,238,000 after purchasing an additional 24,612 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of POSCO by 0.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 244,520 shares of the basic materials company’s stock valued at $18,124,000 after purchasing an additional 1,956 shares in the last quarter. Institutional investors own 5.17% of the company’s stock.

About POSCO

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized and electrical galvanized steel, electrical and stainless steel, automotive materials, titanium, magnesium, and aluminum-plated products.

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