Brokerages Set United States Steel Co. (NYSE:X) Target Price at $37.89

Shares of United States Steel Co. (NYSE:X) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $37.89.

A number of brokerages have recently issued reports on X. BMO Capital Markets dropped their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. StockNews.com started coverage on United States Steel in a research report on Sunday, April 21st. They set a “hold” rating on the stock. Morgan Stanley cut United States Steel from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. started coverage on United States Steel in a report on Friday, January 12th. They set a “neutral” rating and a $52.00 target price on the stock.

United States Steel Price Performance

X stock opened at $37.42 on Friday. The stock has a market cap of $8.41 billion, a PE ratio of 10.66 and a beta of 2.00. The stock has a 50-day moving average price of $42.44 and a two-hundred day moving average price of $41.33. United States Steel has a 1 year low of $20.40 and a 1 year high of $50.20. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. United States Steel’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Equities analysts forecast that United States Steel will post 2.99 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s dividend payout ratio is currently 5.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Byrne Asset Management LLC grew its holdings in shares of United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in United States Steel during the fourth quarter worth about $25,000. Riverview Trust Co acquired a new stake in United States Steel during the first quarter worth about $29,000. Wolff Wiese Magana LLC grew its stake in United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after buying an additional 635 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in United States Steel in the 4th quarter valued at about $33,000. 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.