StockNews.com Begins Coverage on United States Steel (NYSE:X)

Equities research analysts at StockNews.com assumed coverage on shares of United States Steel (NYSE:X) in a report released on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the company. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a research report on Tuesday, April 9th. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $51.00 to $48.00 in a report on Monday, May 6th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Jefferies Financial Group started coverage on United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.78.

United States Steel Stock Up 1.0 %

United States Steel stock opened at $38.19 on Tuesday. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 11.20 and a beta of 1.93. The company’s 50 day simple moving average is $37.25 and its 200 day simple moving average is $42.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. As a group, sell-side analysts anticipate that United States Steel will post 2.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Third Point LLC increased its holdings in shares of United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after acquiring an additional 750,000 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in United States Steel by 11.0% during the 4th 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 holdings 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 worth $145,795,000 after buying an additional 315,000 shares during the last quarter. Norges Bank bought a new position in shares of United States Steel in the fourth quarter valued at $200,952,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of United States Steel by 3.9% during the fourth 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 during the last quarter. 81.92% of the stock is 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.