POSCO (NYSE:PKX) Downgraded by Zacks Research to Hold

Zacks Research cut shares of POSCO (NYSE:PKX) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks reports.

Other analysts have also recently issued reports about the company. Weiss Ratings upgraded POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, September 25th. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

POSCO Trading Down 0.1%

Shares of PKX stock opened at $56.33 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.37 and a current ratio of 1.98. The stock has a market capitalization of $17.04 billion, a P/E ratio of 21.34 and a beta of 1.60. The company has a 50 day moving average price of $57.88 and a 200 day moving average price of $61.56. POSCO has a fifty-two week low of $44.99 and a fifty-two week high of $92.40.

POSCO (NYSE:PKX) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.45. POSCO had a net margin of 1.79% and a return on equity of 1.99%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.96 billion. Equities research analysts predict that POSCO will post 4.91 EPS for the current fiscal year.

Institutional Investors Weigh In On POSCO

Hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in POSCO by 25.2% in the second quarter. QRG Capital Management Inc. now owns 4,682 shares of the basic materials company’s stock valued at $241,000 after buying an additional 941 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of POSCO by 28.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 48,420 shares of the basic materials company’s stock worth $2,488,000 after acquiring an additional 10,812 shares in the last quarter. Nykredit A S purchased a new position in shares of POSCO in the 2nd quarter valued at about $10,002,000. Corient Private Wealth LP increased its holdings in shares of POSCO by 26.7% in the 2nd quarter. Corient Private Wealth LP now owns 50,761 shares of the basic materials company’s stock valued at $2,608,000 after acquiring an additional 10,699 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in shares of POSCO by 101.1% during the 2nd quarter. HB Wealth Management LLC now owns 9,801 shares of the basic materials company’s stock worth $504,000 after acquiring an additional 4,928 shares in the last quarter.

About POSCO

POSCO is a South Korean steel producer that manufactures and sells a broad range of steel products for the automotive, shipbuilding, construction, energy, and general manufacturing industries. Its product portfolio includes hot- and cold-rolled steel, galvanized and electrical steel, stainless steel, wire rod, plates, and other specialty materials.

The company operates major integrated steel facilities in Pohang and Gwangyang, South Korea, and serves customers in domestic and international markets.