United States Steel (NYSE:X) Given New $40.00 Price Target at BMO Capital Markets

United States Steel (NYSE:X) had its target price trimmed by BMO Capital Markets from $43.00 to $40.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on X. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a research report on Monday, September 9th. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Friday, September 6th. Finally, Jefferies Financial Group lowered their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.37.

United States Steel Stock Down 5.0 %

Shares of NYSE X opened at $30.14 on Friday. United States Steel has a 12-month low of $26.92 and a 12-month high of $48.95. The firm’s 50-day simple moving average is $37.88 and its 200 day simple moving average is $37.73. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 19.83 and a beta of 1.83. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The firm’s revenue was down 13.0% on a year-over-year basis. On average, research analysts expect that United States Steel will post 2.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. United States Steel’s payout ratio is currently 13.16%.

Institutional Investors Weigh In On United States Steel

A number of hedge funds and other institutional investors have recently bought and sold shares of X. Rothschild Investment LLC purchased a new stake in United States Steel in the second quarter valued at approximately $26,000. Palouse Capital Management Inc. acquired a new position in United States Steel in the 3rd quarter valued at $35,000. Gladius Capital Management LP acquired a new position in United States Steel during the third quarter worth about $39,000. Blue Trust Inc. increased its holdings in shares of United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 773 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of United States Steel in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.