United States Steel Corporation (X) Shares Gap Up to $26.99
United States Steel Corporation (NYSE:X) shares gapped up before the market opened on Tuesday . The stock had previously closed at $26.38, but opened at $26.99. United States Steel Corporation shares last traded at $27.23, with a volume of 18,998,848 shares traded.
Several research analysts recently commented on the stock. Credit Suisse Group upgraded shares of United States Steel Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $13.68 to $30.00 in a report on Wednesday, May 24th. Deutsche Bank AG upgraded shares of United States Steel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, June 23rd. Standpoint Research cut shares of United States Steel Corporation from a “buy” rating to a “reduce” rating in a report on Tuesday. BidaskClub upgraded shares of United States Steel Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Cowen and Company set a $21.00 target price on shares of United States Steel Corporation and gave the stock a “hold” rating in a report on Thursday, June 15th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. United States Steel Corporation has an average rating of “Hold” and a consensus price target of $28.40.
The company has a market cap of $4.81 billion, a P/E ratio of 174.11 and a beta of 2.88. The firm’s 50 day moving average price is $24.50 and its 200-day moving average price is $26.46.
United States Steel Corporation (NYSE:X) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.66. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.98 billion. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. United States Steel Corporation’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. Analysts anticipate that United States Steel Corporation will post $1.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, August 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. United States Steel Corporation’s dividend payout ratio is presently 125.00%.
In other news, Director Murry Gerber acquired 4,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was acquired at an average price of $26.89 per share, for a total transaction of $107,560.00. Following the completion of the acquisition, the director now owns 168,457 shares in the company, valued at $4,529,808.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of X. Oregon Public Employees Retirement Fund raised its holdings in United States Steel Corporation by 4.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 60,446 shares of the basic materials company’s stock worth $2,044,000 after purchasing an additional 2,615 shares in the last quarter. Geneva Advisors LLC bought a new position in United States Steel Corporation in the first quarter worth $389,000. State Treasurer State of Michigan raised its holdings in United States Steel Corporation by 1.9% in the first quarter. State Treasurer State of Michigan now owns 70,800 shares of the basic materials company’s stock worth $2,394,000 after purchasing an additional 1,300 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in United States Steel Corporation by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 225,738 shares of the basic materials company’s stock worth $7,632,000 after purchasing an additional 707 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in United States Steel Corporation in the first quarter worth $602,000. Institutional investors and hedge funds own 63.37% of the company’s stock.
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United States Steel Corporation Company Profile
United States Steel Corporation 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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