BMO Capital Markets Has Lowered Expectations for United States Steel (NYSE:X) Stock Price

United States Steel (NYSE:X) had its price target reduced by BMO Capital Markets from $45.00 to $43.00 in a report issued on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on the stock. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research note on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. Morgan Stanley increased their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.80.

United States Steel Trading Down 1.0 %

Shares of United States Steel stock opened at $38.26 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. United States Steel has a 1 year low of $26.92 and a 1 year high of $50.20. The company has a market capitalization of $8.61 billion, a P/E ratio of 25.17 and a beta of 1.86. The business has a 50 day moving average price of $36.53 and a 200 day moving average price of $37.67.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. United States Steel had a return on equity of 6.06% and a net margin of 2.41%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm posted $1.36 EPS. United States Steel’s revenue was down 13.0% on a year-over-year basis. Sell-side analysts anticipate that United States Steel will post 2.17 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. United States Steel’s dividend payout ratio is currently 13.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in United States Steel in the 2nd quarter worth $26,000. Palouse Capital Management Inc. bought a new position in shares of United States Steel during the 3rd quarter worth about $35,000. Blue Trust Inc. lifted its holdings in shares of United States Steel by 339.0% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 773 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of United States Steel during the 2nd quarter worth about $46,000. Finally, Headlands Technologies LLC bought a new position in shares of United States Steel during the 1st quarter worth about $58,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.