United States Steel (NYSE:X) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of United States Steel (NYSE:X) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley raised United States Steel from an equal weight rating to an overweight rating and decreased their target price for the stock from $51.00 to $48.00 in a research note on Monday, May 6th. Jefferies Financial Group assumed coverage on United States Steel in a research note on Monday, May 20th. They set a buy rating and a $45.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Wolfe Research raised United States Steel from a peer perform rating to an outperform rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. Finally, BMO Capital Markets raised United States Steel from a market perform rating to an outperform rating and increased their price target for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $40.38.

United States Steel Trading Up 1.5 %

Shares of X stock opened at $39.32 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 11.54 and a beta of 1.93. The stock has a 50 day simple moving average of $37.52 and a 200-day simple moving average of $41.96. United States Steel has a 1-year low of $22.26 and a 1-year high of $50.20.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.22 billion. On average, equities research analysts expect that United States Steel will post 2.6 EPS 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. Stockholders 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 0.51%. United States Steel’s dividend payout ratio is currently 5.87%.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC raised its holdings in United States Steel by 1,140.0% during the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 570 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of United States Steel in the fourth quarter valued at $25,000. Riverview Trust Co purchased a new stake in shares of United States Steel in the first quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in shares of United States Steel in the fourth quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of United States Steel in the first quarter valued at $41,000. 81.92% of the stock is owned by institutional investors and hedge funds.

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.