United States Steel Corp. (NYSE:X) dropped 5.6% on Friday . The stock traded as low as $20.51 and last traded at $20.58, with a volume of 9,752,658 shares. The stock had previously closed at $21.81.

X has been the topic of several recent research reports. Vetr downgraded United States Steel Corp. from a “sell” rating to a “strong sell” rating and set a $16.63 price target on the stock. in a report on Monday, May 2nd. BMO Capital Markets restated a “hold” rating on shares of United States Steel Corp. in a report on Wednesday, April 27th. Morgan Stanley reiterated a “hold” rating and issued a $19.00 price objective on shares of United States Steel Corp. in a report on Thursday, July 28th. Axiom Securities reiterated a “sell” rating on shares of United States Steel Corp. in a report on Monday, May 23rd. Finally, Zacks Investment Research downgraded United States Steel Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.82.

The firm’s 50-day moving average is $22.30 and its 200-day moving average is $16.57. The stock’s market capitalization is $2.99 billion.

United States Steel Corp. (NYSE:X) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.18. The firm earned $2.58 billion during the quarter, compared to the consensus estimate of $2.68 billion. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.79) earnings per share. On average, analysts predict that United States Steel Corp. will post ($0.65) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Wednesday, August 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Monday, August 8th.

An institutional investor recently raised its position in United States Steel Corp. stock. California Public Employees Retirement System boosted its stake in shares of United States Steel Corp. (NYSE:X) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,600 shares of the company’s stock after buying an additional 72,500 shares during the period. California Public Employees Retirement System owned about 0.34% of United States Steel Corp. worth $3,955,000 at the end of the most recent reporting period.

United States Steel Corporation (U. S. Steel) is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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