United States Steel (NYSE:X) Downgraded by ValuEngine to Strong Sell

ValuEngine lowered shares of United States Steel (NYSE:X) from a sell rating to a strong sell rating in a report issued on Friday, ValuEngine reports.

A number of other brokerages have also issued reports on X. UBS Group lowered shares of United States Steel from a neutral rating to a sell rating and cut their price target for the company from $22.00 to $10.00 in a research note on Wednesday, May 8th. Deutsche Bank lowered shares of United States Steel from a hold rating to a sell rating and set a $12.64 price target on the stock. in a research note on Thursday, May 30th. BMO Capital Markets restated a market perform rating on shares of United States Steel in a research note on Monday, May 6th. They noted that the move was a valuation call. Vertical Group upgraded shares of United States Steel from a sell rating to a buy rating in a research note on Wednesday, June 19th. Finally, Bank of America restated an underperform rating and set a $12.00 price target on shares of United States Steel in a research note on Friday, May 31st. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $18.94.

Shares of United States Steel stock opened at $12.43 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. United States Steel has a 12-month low of $10.85 and a 12-month high of $31.59. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 2.32, a PEG ratio of 2.00 and a beta of 2.97. The firm’s 50 day simple moving average is $13.82 and its two-hundred day simple moving average is $16.79.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the business posted $1.46 EPS. United States Steel’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict that United States Steel will post 0.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 14th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.61%. United States Steel’s payout ratio is currently 3.73%.

A number of hedge funds and other institutional investors have recently made changes to their positions in X. Point72 Asset Management L.P. boosted its holdings in United States Steel by 11,651.5% during the second quarter. Point72 Asset Management L.P. now owns 1,261,286 shares of the basic materials company’s stock worth $19,310,000 after buying an additional 1,250,553 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in United States Steel by 402.0% during the second quarter. Canada Pension Plan Investment Board now owns 1,475,957 shares of the basic materials company’s stock worth $22,597,000 after buying an additional 1,181,957 shares in the last quarter. AQR Capital Management LLC boosted its holdings in United States Steel by 808.3% during the second quarter. AQR Capital Management LLC now owns 961,770 shares of the basic materials company’s stock worth $14,465,000 after buying an additional 855,884 shares in the last quarter. BlackRock Inc. boosted its holdings in United States Steel by 5.4% during the first quarter. BlackRock Inc. now owns 16,577,232 shares of the basic materials company’s stock worth $323,090,000 after buying an additional 846,135 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in United States Steel during the first quarter worth $15,786,000. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for United States Steel (NYSE:X)

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