POSCO (PKX) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a research note published on Wednesday.

According to Zacks, “In the last three months, POSCO's American Depository Receipts (ADR) outperformed the industry. Over the long term, we believe the company stands to benefit from its regional diversifications, superior product portfolio and initiatives to dispose non-core assets. On a consolidated basis, the company aims to generate revenues of approximately KRW 59.3 trillion in 2017, higher than KRW 54.8 trillion expected earlier. Finished product sales are estimated to be roughly 35.1 million tons while crude steel production is projected to be nearly 37 million tons. Also, the company plans to spend KRW 3.5 trillion for strengthening its businesses. However, the company is exposed to risks from higher costs and expenses, industry rivalry, huge debt level, geopolitical issues and foreign currency fluctuations. Over the last 60 days, earnings estimates on the stock remained stable for 2017 and 2018.”

PKX has been the topic of several other reports. CLSA upgraded shares of POSCO from an underperform rating to an outperform rating in a research report on Thursday, July 20th. BidaskClub downgraded shares of POSCO from a strong-buy rating to a buy rating in a research report on Saturday, August 12th. UBS AG upgraded shares of POSCO from a neutral rating to a buy rating in a research report on Thursday, July 6th. Finally, Standpoint Research downgraded shares of POSCO from a buy rating to a hold rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. POSCO currently has an average rating of Buy and an average target price of $64.00.

POSCO (NYSE:PKX) opened at 68.24 on Wednesday. The company has a 50-day moving average of $73.53 and a 200-day moving average of $65.36. POSCO has a 1-year low of $49.37 and a 1-year high of $77.76. The stock has a market capitalization of $21.84 billion, a price-to-earnings ratio of 12.13 and a beta of 1.12.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by BBNS and is the property of of BBNS. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://baseballnewssource.com/markets/posco-pkx-downgraded-to-hold-at-zacks-investment-research/1665401.html.

Several hedge funds and other institutional investors have recently made changes to their positions in PKX. LMR Partners LLP increased its stake in shares of POSCO by 516.2% in the first quarter. LMR Partners LLP now owns 247,038 shares of the basic materials company’s stock worth $16,069,000 after purchasing an additional 206,949 shares in the last quarter. UBS Group AG increased its stake in shares of POSCO by 625.5% in the first quarter. UBS Group AG now owns 237,276 shares of the basic materials company’s stock worth $15,304,000 after purchasing an additional 204,571 shares in the last quarter. Athos Capital Ltd purchased a new stake in shares of POSCO in the second quarter worth $8,463,000. Dimensional Fund Advisors LP increased its stake in shares of POSCO by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,092,632 shares of the basic materials company’s stock worth $199,437,000 after purchasing an additional 112,528 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of POSCO by 1,544.3% in the first quarter. Jane Street Group LLC now owns 102,853 shares of the basic materials company’s stock worth $6,634,000 after purchasing an additional 96,598 shares in the last quarter. 5.14% of the stock is owned by hedge funds and other institutional investors.

POSCO Company Profile

POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.

Get a free copy of the Zacks research report on POSCO (PKX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for POSCO (NYSE:PKX)

Receive News & Ratings for POSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for POSCO and related companies with our FREE daily email newsletter.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.