Shares of United States Steel Co. (NYSE:X) have been given an average recommendation of “Hold” by the seventeen research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.88.
Several equities analysts have commented on X shares. Jefferies Financial Group downgraded United States Steel from a “buy” rating to a “hold” rating and set a $21.15 price objective on the stock. in a research report on Tuesday, January 22nd. Morgan Stanley raised United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock in a research report on Monday, January 28th. Argus cut their price objective on United States Steel from $30.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, February 1st. They noted that the move was a valuation call. Berenberg Bank raised United States Steel from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Thursday, February 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $31.00 price objective (up previously from $28.00) on shares of United States Steel in a research report on Wednesday, February 27th.
Several institutional investors and hedge funds have recently bought and sold shares of X. Dimensional Fund Advisors LP grew its position in shares of United States Steel by 62.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,691,438 shares of the basic materials company’s stock worth $149,906,000 after buying an additional 2,950,906 shares in the last quarter. Norges Bank bought a new stake in United States Steel during the fourth quarter valued at about $34,731,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in United States Steel during the first quarter valued at about $26,258,000. Oregon Public Employees Retirement Fund boosted its position in United States Steel by 1,747.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,290,225 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 1,220,388 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in United States Steel during the fourth quarter valued at about $18,206,000. 66.96% of the stock is currently owned by institutional investors and hedge funds.
United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.30. United States Steel had a return on equity of 24.72% and a net margin of 7.92%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. United States Steel’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that United States Steel will post 1.7 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is 3.73%.
About United States Steel
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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