United States Steel Co. (X) Receives $37.84 Average PT from Analysts

United States Steel Co. (NYSE:X) has received an average recommendation of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.67.

Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of United States Steel from a “hold” rating to a “strong sell” rating in a research note on Saturday. TheStreet downgraded shares of United States Steel from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Citigroup downgraded shares of United States Steel from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $23.00 in a research note on Wednesday, January 9th. Cowen assumed coverage on shares of United States Steel in a research note on Tuesday, January 8th. They issued a “market perform” rating and a $22.00 price objective for the company. Finally, Credit Suisse Group downgraded shares of United States Steel from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 8th.

In related news, CFO Kevin Bradley bought 10,000 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was bought at an average cost of $20.33 per share, with a total value of $203,300.00. Following the completion of the acquisition, the chief financial officer now owns 112,830 shares in the company, valued at approximately $2,293,833.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James E. Bruno sold 12,000 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $25.75, for a total transaction of $309,000.00. Following the completion of the transaction, the vice president now directly owns 54,137 shares of the company’s stock, valued at $1,394,027.75. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Exane Derivatives grew its position in shares of United States Steel by 364,000.0% in the third quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 3,640 shares during the last quarter. Trustcore Financial Services LLC acquired a new stake in shares of United States Steel in the third quarter valued at approximately $128,000. Truvestments Capital LLC acquired a new stake in United States Steel during the third quarter worth approximately $143,000. Point72 Hong Kong Ltd acquired a new stake in United States Steel during the third quarter worth approximately $156,000. Finally, Macquarie Group Ltd. boosted its position in United States Steel by 252.8% during the third quarter. Macquarie Group Ltd. now owns 6,350 shares of the basic materials company’s stock worth $194,000 after acquiring an additional 4,550 shares during the last quarter. Institutional investors and hedge funds own 63.20% of the company’s stock.

United States Steel stock opened at $20.82 on Friday. United States Steel has a twelve month low of $17.08 and a twelve month high of $47.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.62. The firm has a market cap of $3.73 billion, a PE ratio of 10.73, a P/E/G ratio of 0.59 and a beta of 2.77.

United States Steel (NYSE:X) last posted its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. Analysts predict that United States Steel will post 5.39 EPS for the current year.

United States Steel declared that its Board of Directors has initiated a share buyback plan on Thursday, November 1st that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.

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Analyst Recommendations for United States Steel (NYSE:X)

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