United States Steel (NYSE: X) was downgraded by research analysts at Wolfe Research from a “market performance” rating to an “underperformance” rating in a rating issued to investors on Tuesday, the Analyst Ratings Network reports. They currently have a price target of $ 24.00 on the stocks of the basic materials company. Wolfe Research’s target price indicates a potential decline of 0.29% from the company’s current price.
Several other equity research analysts also recently published reports on X. Citigroup raised its target price for United States Steel shares from $ 26.00 to $ 30.00 and gave the stock a rating ” neutral “in a research report on Tuesday, November 9. Morgan Stanley reduced shares of United States Steel from an “overweight” to an “underweight” rating and lowered its price target for the company from $ 35 to $ 17.00 in a research report released on Monday, October 18. Zacks Investment Research reduced shares of United States Steel from a “buy” rating to a “hold” rating and set a price target of $ 24.00 for the stock. in a research report on Thursday, October 21. Argus upgraded United States Steel shares from a “conservation” rating to a “buy” rating and set a price target of $ 25.00 on the stock in a research note on Thursday, October 14. . Finally, the Goldman Sachs group downgraded shares of United States Steel from a “neutral” rating to a “sell” rating and lowered its price target for the company from $ 34.00 to $ 21.00 in a research note Wednesday, October 6. Four investment analysts gave the stock a sell rating, four assigned a conservation rating, and three gave the stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $ 29.27.
X lost $ 0.62 during trading hours on Tuesday, reaching $ 24.07. 682,522 shares of the company were traded, for an average volume of 16,907,994. United States Steel has a 12-month low of $ 16.13 and a 12-month high of $ 30.57. The company has a 50-day moving average of $ 24.18 and a 200-day moving average of $ 24.30. The company has a current ratio of 1.69, a quick ratio of 1.17, and a debt ratio of 0.53. The company has a market cap of $ 6.50 billion, a P / E ratio of 2.23 and a beta of 2.11.
United States Steel (NYSE: X) last released its quarterly results on Thursday, October 28. The basic materials company reported earnings per share of $ 5.36 for the quarter, beating the Zacks’ consensus estimate of $ 4.85 by $ 0.51. United States Steel had a net margin of 18.61% and a return on equity of 48.43%. The company posted revenue of $ 5.97 billion in the quarter, compared to $ 5.75 billion expected by analysts. In the same quarter of the previous year, the company made EPS ($ 1.21). United States Steel’s quarterly revenue increased 154.9% from the same quarter last year. As a group, research analysts expect United States Steel to post an EPS of 14.96 for the current fiscal year.
In other news from United States Steel, Vice President James E. Bruno sold 10,820 shares of the company in a transaction dated Monday, October 25. The shares were sold for an average price of $ 24.00, for a total value of $ 259,680.00. The sale was disclosed in a file with the Securities & Exchange Commission, which is available through this link. 1.20% of the shares are currently owned by insiders.
Hedge funds and other institutional investors recently bought and sold shares in the company. Amundi Pioneer Asset Management Inc. increased its stake in United States Steel shares by 1.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 159,943 shares of the basic materials company valued at $ 3,117,000 after purchasing an additional 2,795 shares during the period. Envestnet Asset Management Inc. increased its stake in United States Steel shares by 14.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 15,052 shares of the basic materials company valued at $ 361,000 after purchasing an additional 1,899 shares in the last quarter. US Bancorp DE increased its stake in United States Steel shares by 48.8% in the second quarter. US Bancorp DE now owns 8,467 shares of the basic materials company valued at $ 203,000 after purchasing an additional 2,777 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in United States Steel shares by 9.3% in the second quarter. PNC Financial Services Group Inc. now owns 28,916 shares of the basic materials company valued at $ 693,000 after purchasing an additional 2,457 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC purchased a new stake in United States Steel during the second quarter valued at approximately $ 292,000. Hedge funds and other institutional investors hold 67.54% of the company’s shares.
About United States Steel
United States Steel Corp. is engaged in the manufacture and sale of steel products. It operates in the following business segments: flat rolled products, US Steel Europe and tubular products. The Flat Rolled Products segment includes the management of steel mills and production facilities that manufacture steel slabs, rounds, strip mill plate, plate, tin mills, iron ore and coke.
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