United States Steel (NYSE:X) Stock Rating Upgraded by Glj Research

Glj Research upgraded shares of United States Steel (NYSE:X) from a sell rating to a buy rating in a report published on Monday morning, MarketBeat.com reports. Glj Research currently has $38.57 price target on the basic materials company’s stock.

Several other brokerages have also recently commented on X. BMO Capital Markets raised United States Steel from a market perform rating to an outperform rating and raised their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded United States Steel from a neutral rating to an overweight rating and upped their target price for the company from $40.00 to $42.00 in a report on Monday. Jefferies Financial Group decreased their price target on shares of United States Steel from $47.00 to $41.00 and set a buy rating for the company in a report on Thursday, September 5th. StockNews.com began coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a hold rating on the stock. Finally, BNP Paribas raised shares of United States Steel from a neutral rating to an outperform rating and set a $40.00 target price for the company in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.76.

United States Steel Stock Up 4.2 %

X stock opened at $34.78 on Monday. The firm’s 50-day moving average is $38.30 and its two-hundred day moving average is $39.13. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 10.20 and a beta of 1.88. United States Steel has a 52 week low of $26.92 and a 52 week high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The company’s revenue was down 17.8% on a year-over-year basis. On average, analysts forecast that United States Steel will post 2.19 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, August 12th. This represents a $0.20 annualized dividend and a yield of 0.58%. United States Steel’s dividend payout ratio is 5.87%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of United States Steel in the 4th quarter valued at approximately $200,952,000. Massachusetts Financial Services Co. MA raised its stake in United States Steel by 4,305.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after acquiring an additional 3,551,870 shares in the last quarter. KRYGER CAPITAL Ltd bought a new position in shares of United States Steel during the fourth quarter valued at $95,529,000. KGH Ltd boosted its stake in shares of United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in United States Steel during the 4th quarter valued at about $53,338,000. 81.92% of the stock is owned by 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.