United States Steel (NYSE:X) Now Covered by Analysts at Bank of America

Bank of America began coverage on shares of United States Steel (NYSE:X) in a research report sent to investors on Monday morning. The firm issued a neutral rating and a $35.00 price objective on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research report on Monday, September 9th. Finally, Jefferies Financial Group cut their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, United States Steel currently has a consensus rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Stock Up 8.4 %

NYSE X opened at $33.04 on Monday. The stock has a market cap of $7.44 billion, a PE ratio of 21.74 and a beta of 1.88. The business has a 50 day moving average price of $36.62 and a two-hundred day moving average price of $37.34. United States Steel has a fifty-two week low of $26.92 and a fifty-two week high of $48.85. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last released its quarterly 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 net margin of 2.41% and a return on equity of 6.01%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business earned $1.36 EPS. The business’s revenue was down 13.0% on a year-over-year basis. As a group, sell-side analysts predict that United States Steel will post 2.17 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Institutional Investors Weigh In On United States Steel

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its stake in United States Steel by 646.0% in the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after buying an additional 438,771 shares during the last quarter. Geode Capital Management LLC lifted its position in United States Steel by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after purchasing an additional 37,528 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in United States Steel by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after purchasing an additional 28,293 shares during the period. Water Island Capital LLC grew its position in United States Steel by 5.3% in the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after purchasing an additional 45,567 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of United States Steel in the third quarter valued at approximately $608,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.