United States Steel (NYSE:X) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of United States Steel (NYSE:X) from a market perform rating to an outperform rating in a research report report published on Wednesday morning, Marketbeat reports. They currently have $45.00 target price on the basic materials company’s stock, up from their previous target price of $43.00.

A number of other equities research analysts also recently weighed in on X. StockNews.com assumed coverage on United States Steel in a report on Monday, June 24th. They issued a hold rating for the company. Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a report on Tuesday, April 9th. JPMorgan Chase & Co. decreased their price objective on United States Steel from $47.00 to $43.00 and set a neutral rating for the company in a report on Friday, May 3rd. Jefferies Financial Group started coverage on United States Steel in a report on Monday, May 20th. They set a buy rating and a $45.00 price objective for the company. Finally, Morgan Stanley upgraded United States Steel from an equal weight rating to an overweight rating and decreased their price target for the stock from $51.00 to $48.00 in a report on Monday, May 6th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $38.78.

United States Steel Stock Performance

United States Steel stock opened at $37.80 on Wednesday. United States Steel has a 12-month low of $22.26 and a 12-month high of $50.20. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $37.26 and its two-hundred day moving average price is $42.28. The stock has a market cap of $8.50 billion, a PE ratio of 11.09 and a beta of 1.99.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. As a group, analysts expect that United States Steel will post 2.69 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were issued a $0.05 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. United States Steel’s payout ratio is currently 5.87%.

Hedge Funds Weigh In On United States Steel

Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in United States Steel by 4.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,969 shares of the basic materials company’s stock worth $356,000 after purchasing an additional 444 shares during the period. LPL Financial LLC increased its stake in United States Steel by 2.6% in the 3rd quarter. LPL Financial LLC now owns 293,920 shares of the basic materials company’s stock worth $9,547,000 after purchasing an additional 7,315 shares during the period. Mariner LLC increased its stake in United States Steel by 18.7% in the 3rd quarter. Mariner LLC now owns 49,337 shares of the basic materials company’s stock worth $1,602,000 after purchasing an additional 7,780 shares during the period. Federated Hermes Inc. increased its stake in United States Steel by 50.8% in the 3rd quarter. Federated Hermes Inc. now owns 126,249 shares of the basic materials company’s stock worth $4,101,000 after purchasing an additional 42,517 shares during the period. Finally, Natixis Advisors L.P. increased its stake in United States Steel by 58.3% in the 3rd quarter. Natixis Advisors L.P. now owns 22,931 shares of the basic materials company’s stock worth $745,000 after purchasing an additional 8,441 shares during the period. 81.92% 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. 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.