United States Steel (NYSE:X) Reaches New 1-Year High – Here’s Why

United States Steel Co. (NYSE:X) reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $54.00 and last traded at $52.50, with a volume of 53706631 shares. The stock had previously closed at $42.90.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their price target on United States Steel from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $43.00) on shares of United States Steel in a report on Wednesday, April 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.22.

United States Steel Price Performance

The company has a 50 day moving average price of $42.26 and a 200 day moving average price of $38.68. The firm has a market cap of $11.89 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.82. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.54 billion. United States Steel had a return on equity of 4.27% and a net margin of 2.46%. United States Steel’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. On average, sell-side analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 12th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, May 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. United States Steel’s dividend payout ratio is currently 68.97%.

Institutional Investors Weigh In On United States Steel

Institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC lifted its stake in United States Steel by 643.8% in the 1st quarter. Golden State Wealth Management LLC now owns 595 shares of the basic materials company’s stock valued at $25,000 after buying an additional 515 shares in the last quarter. HM Payson & Co. lifted its stake in United States Steel by 57.2% in the 1st quarter. HM Payson & Co. now owns 706 shares of the basic materials company’s stock valued at $30,000 after buying an additional 257 shares in the last quarter. Bessemer Group Inc. raised its holdings in United States Steel by 64.0% in the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 277 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new position in United States Steel in the 1st quarter valued at $31,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in United States Steel in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.