JPMorgan Chase & Co. Cuts United States Steel (NYSE:X) Price Target to $43.00

United States Steel (NYSE:X) had its price target reduced by analysts at JPMorgan Chase & Co. from $47.00 to $43.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 17.91% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. StockNews.com initiated coverage on United States Steel in a report on Monday. They set a “hold” rating on the stock. BMO Capital Markets reduced their target price on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research report on Tuesday, April 9th. Finally, Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.89.

United States Steel Trading Down 1.6 %

X stock traded down $0.58 during midday trading on Friday, hitting $36.47. The stock had a trading volume of 2,191,174 shares, compared to its average volume of 4,552,442. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average price of $41.48 and a two-hundred day moving average price of $41.46. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20. The firm has a market cap of $8.20 billion, a P/E ratio of 10.39 and a beta of 2.06.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Third Point LLC increased its holdings in shares of United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after purchasing an additional 750,000 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of United States Steel by 11.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock valued at $219,583,000 after purchasing an additional 447,186 shares in the last quarter. KGH Ltd raised its stake in United States Steel by 7.5% during the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock valued at $145,795,000 after purchasing an additional 315,000 shares in the last quarter. Norges Bank purchased a new stake in United States Steel during the fourth quarter valued at $200,952,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of United States Steel by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock valued at $121,564,000 after buying an additional 94,080 shares in the last quarter. 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.