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

StockNews.com began coverage on shares of United States Steel (NYSE:X) in a research report released on Monday morning. The firm issued a hold rating on the basic materials company’s stock.

Several other equities analysts have also recently weighed in on X. BMO Capital Markets lowered their price objective on shares of United States Steel from $55.00 to $45.00 and set a market perform rating on the stock in a research report on Tuesday, March 19th. Morgan Stanley lowered United States Steel from an overweight rating to an equal weight rating and upped their price target for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. initiated coverage on United States Steel in a report on Friday, January 12th. They issued a neutral rating and a $52.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $37.89.

United States Steel Stock Performance

NYSE:X opened at $36.98 on Monday. The company has a 50-day moving average of $41.89 and a 200-day moving average of $41.46. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 10.54 and a beta of 2.00. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. United States Steel has a twelve month low of $20.40 and a twelve month high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Analysts forecast that United States Steel will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United States Steel

Institutional investors and hedge funds have recently bought and sold shares of the stock. Byrne Asset Management LLC raised its holdings in United States Steel by 1,140.0% in the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 570 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $25,000. Riverview Trust Co acquired a new position in shares of United States Steel in the first quarter valued at $29,000. Wolff Wiese Magana LLC lifted its position in United States Steel by 181.4% in the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 635 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in United States Steel during the fourth quarter worth $33,000. Institutional investors own 81.92% of the company’s stock.

About United States Steel

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.