United States Steel (X) Earns “Underperform” Rating from Bank of America

Bank of America restated their underperform rating on shares of United States Steel (NYSE:X) in a research note issued to investors on Friday, Briefing.com Automated Import reports. Bank of America currently has a $12.00 price objective on the basic materials company’s stock, down from their previous price objective of $18.00.

A number of other brokerages have also recently commented on X. Credit Suisse Group cut United States Steel from an outperform rating to a neutral rating in a research note on Tuesday, January 8th. Cowen assumed coverage on United States Steel in a research report on Tuesday, January 8th. They set a market perform rating and a $22.00 target price on the stock. Citigroup cut United States Steel from a buy rating to a neutral rating and cut their target price for the company from $40.00 to $23.00 in a research report on Wednesday, January 9th. TheStreet cut United States Steel from a b- rating to a c+ rating in a research report on Tuesday, January 8th. Finally, Zacks Investment Research cut United States Steel from a hold rating to a strong sell rating in a research report on Saturday, January 12th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $23.47.

NYSE X traded up $2.49 during trading hours on Friday, hitting $16.88. 43,735,509 shares of the company’s stock were exchanged, compared to its average volume of 10,556,229. United States Steel has a 1-year low of $14.16 and a 1-year high of $39.23. The stock has a market capitalization of $2.93 billion, a P/E ratio of 3.15, a P/E/G ratio of 0.91 and a beta of 2.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.51 and a quick ratio of 0.86.

United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.17 by $0.30. United States Steel had a return on equity of 25.39% and a net margin of 7.86%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that United States Steel will post 2.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. United States Steel’s dividend payout ratio (DPR) is currently 3.73%.

In other news, CFO Kevin Bradley bought 10,000 shares of the stock in a transaction on Friday, February 15th. The shares were purchased at an average cost of $22.79 per share, for a total transaction of $227,900.00. Following the completion of the purchase, the chief financial officer now directly owns 122,830 shares in the company, valued at approximately $2,799,295.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc raised its position in United States Steel by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 16,224,060 shares of the basic materials company’s stock valued at $494,509,000 after purchasing an additional 194,618 shares during the last quarter. Vanguard Group Inc. grew its holdings in United States Steel by 1.2% in the third quarter. Vanguard Group Inc. now owns 16,224,060 shares of the basic materials company’s stock worth $494,509,000 after purchasing an additional 194,618 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in United States Steel by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,286,558 shares of the basic materials company’s stock worth $41,706,000 after purchasing an additional 287,808 shares during the last quarter. Morgan Stanley grew its holdings in United States Steel by 8.4% in the third quarter. Morgan Stanley now owns 1,909,374 shares of the basic materials company’s stock worth $58,195,000 after purchasing an additional 147,262 shares during the last quarter. Finally, Norges Bank purchased a new position in United States Steel in the fourth quarter worth $34,731,000. Hedge funds and other institutional investors own 69.90% of the company’s stock.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

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Analyst Recommendations for United States Steel (NYSE:X)

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