POSCO (NYSE:PKX) Stock Rating Lowered by Wall Street Zen

POSCO (NYSE:PKX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

POSCO Stock Down 1.3%

PKX stock opened at $48.42 on Friday. The company has a 50 day moving average of $45.52 and a two-hundred day moving average of $46.08. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.14 and a beta of 1.36. POSCO has a 12-month low of $39.40 and a 12-month high of $74.01. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

POSCO (NYSE:PKX) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. POSCO had a return on equity of 1.87% and a net margin of 1.55%. On average, equities analysts anticipate that POSCO will post 3.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in POSCO in the fourth quarter worth approximately $770,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in POSCO by 19.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock worth $16,672,000 after purchasing an additional 63,336 shares in the last quarter. Ovata Capital Management Ltd bought a new stake in POSCO in the fourth quarter worth $4,791,000. Northern Trust Corp increased its position in POSCO by 157.0% during the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock worth $18,613,000 after buying an additional 262,257 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in POSCO by 34.9% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 41,319 shares of the basic materials company’s stock valued at $1,792,000 after buying an additional 10,696 shares in the last quarter.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.