POSCO (NYSE:PKX) Shares Gap Up – What’s Next?

POSCO (NYSE:PKX) gapped up prior to trading on Monday . The stock had previously closed at $55.61, but opened at $58.69. POSCO shares last traded at $59.16, with a volume of 24,800 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley upgraded shares of POSCO from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 4th. Wall Street Zen downgraded shares of POSCO from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th.

POSCO Stock Performance

The company has a current ratio of 1.89, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average is $49.12 and its two-hundred day moving average is $47.24. The stock has a market cap of $18.11 billion, a price-to-earnings ratio of 37.30, a P/E/G ratio of 0.39 and a beta of 1.35.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). POSCO had a net margin of 1.20% and a return on equity of 1.45%. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.12 billion. As a group, sell-side analysts expect that POSCO will post 3.74 earnings per share for the current year.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently made changes to their positions in PKX. Parvin Asset Management LLC purchased a new position in POSCO in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC boosted its position in POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company’s stock valued at $76,000 after buying an additional 1,231 shares during the period. Brooklyn Investment Group boosted its position in POSCO by 938.0% in the 1st quarter. Brooklyn Investment Group now owns 2,647 shares of the basic materials company’s stock valued at $126,000 after buying an additional 2,392 shares during the period. Lindbrook Capital LLC raised its holdings in shares of POSCO by 10.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 316 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of POSCO in the 1st quarter valued at $201,000.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.