United States Steel (NYSE:X) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of United States Steel (NYSE:X) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on X. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on shares of United States Steel in a report on Friday, January 12th. They set a “neutral” rating and a $52.00 target price on the stock. Finally, BMO Capital Markets lowered their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.89.

United States Steel Trading Up 0.6 %

NYSE:X opened at $38.84 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.73 billion, a PE ratio of 11.07 and a beta of 2.01. The firm’s 50 day moving average is $43.12 and its 200 day moving average is $41.33. United States Steel has a 12 month low of $20.40 and a 12 month high of $50.20.

United States Steel (NYSE:X) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. United States Steel’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Sell-side analysts expect that United States Steel will post 3.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC grew its position in shares of United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 570 shares in the last quarter. State of Michigan Retirement System grew its position in shares of United States Steel by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 54,899 shares of the basic materials company’s stock valued at $2,239,000 after purchasing an additional 1,400 shares in the last quarter. Diversified Trust Co grew its position in United States Steel by 4.0% in the first quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 324 shares in the last quarter. Cannon Global Investment Management LLC purchased a new position in United States Steel in the first quarter worth $2,055,000. Finally, Atlas Capital Advisors LLC grew its position in United States Steel by 178.8% in the first quarter. Atlas Capital Advisors LLC now owns 8,516 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 5,461 shares in the last quarter. 81.92% of the stock is currently 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. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.