Traders Buy Shares of United States Steel Corp. (X) on Weakness
Traders bought shares of United States Steel Corp. (NYSE:X) on weakness during trading on Tuesday. $62.03 million flowed into the stock on the tick-up and $49.25 million flowed out of the stock on the tick-down, for a money net flow of $12.78 million into the stock. Of all companies tracked, United States Steel Corp. had the 22nd highest net in-flow for the day. United States Steel Corp. traded down ($0.24) for the day and closed at $20.71
A number of research analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $35.00 target price (up from $25.00) on shares of United States Steel Corp. in a report on Sunday, July 31st. Morgan Stanley reissued a “hold” rating and set a $19.00 target price on shares of United States Steel Corp. in a report on Thursday, July 28th. Zacks Investment Research lowered United States Steel Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Clarkson Capital raised United States Steel Corp. from a “sell” rating to a “neutral” rating in a report on Tuesday, August 2nd. Finally, Barclays PLC boosted their target price on United States Steel Corp. from $16.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. United States Steel Corp. presently has a consensus rating of “Hold” and an average price target of $20.03.
The company’s market capitalization is $3.04 billion. The firm’s 50 day moving average is $22.33 and its 200 day moving average is $16.89.
United States Steel Corp. (NYSE:X) last issued its quarterly earnings results on Tuesday, July 26th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.18. During the same period last year, the firm earned ($0.79) EPS. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.68 billion. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. Equities analysts expect that United States Steel Corp. will post ($0.65) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Monday, August 8th.
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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