United States Steel (NYSE:X) Price Target Cut to $40.00 by Analysts at BMO Capital Markets

United States Steel (NYSE:X) had its target price cut by BMO Capital Markets from $43.00 to $40.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other research firms have also recently weighed in on X. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday, September 6th. Jefferies Financial Group reduced their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $42.00 in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, United States Steel has a consensus rating of “Moderate Buy” and a consensus target price of $42.37.

United States Steel Stock Performance

Shares of X stock opened at $30.14 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average price of $37.88 and a 200-day moving average price of $37.72. United States Steel has a 52 week low of $26.92 and a 52 week high of $48.95. The firm has a market capitalization of $6.79 billion, a PE ratio of 19.83 and a beta of 1.83.

United States Steel (NYSE:X) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. United States Steel’s revenue was down 13.0% on a year-over-year basis. As a group, equities research analysts expect that United States Steel will post 2.17 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.66%. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Institutional Trading of United States Steel

A number of institutional investors have recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of United States Steel in the 2nd quarter valued at approximately $26,000. Palouse Capital Management Inc. acquired a new position in United States Steel during the 3rd quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new position in shares of United States Steel in the third quarter worth $39,000. Blue Trust Inc. lifted its stake in shares of United States Steel by 339.0% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after buying an additional 773 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of United States Steel during the second quarter worth $46,000. 81.92% of the stock is currently owned by institutional investors.

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.