United States Steel (X) Receives “Hold” Rating from Cowen

Cowen reissued their hold rating on shares of United States Steel (NYSE:X) in a research report sent to investors on Thursday. Cowen currently has a $40.00 price target on the basic materials company’s stock.

Several other research firms have also commented on X. Macquarie started coverage on shares of United States Steel in a research report on Wednesday, September 6th. They issued an outperform rating and a $31.00 price target on the stock. ValuEngine upgraded shares of United States Steel from a hold rating to a buy rating in a research report on Sunday, December 31st. Bank of America set a $32.00 target price on shares of United States Steel and gave the stock a buy rating in a research report on Friday, October 20th. BMO Capital Markets restated a market perform rating on shares of United States Steel in a research report on Friday, September 8th. Finally, Citigroup raised their target price on shares of United States Steel from $20.00 to $22.00 and gave the stock a sell rating in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $30.32.

Shares of United States Steel (NYSE:X) traded up $0.10 during trading on Thursday, reaching $37.99. 6,530,000 shares of the company’s stock were exchanged, compared to its average volume of 9,710,000. United States Steel has a 12 month low of $18.55 and a 12 month high of $41.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.89. The stock has a market capitalization of $6,650.00, a PE ratio of 55.87 and a beta of 3.00.

United States Steel (NYSE:X) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. research analysts predict that United States Steel will post 1.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were issued a $0.05 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is presently 29.41%.

In other news, insider Richard Fruehauf sold 5,959 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $30.00, for a total value of $178,770.00. Following the transaction, the insider now owns 7,960 shares of the company’s stock, valued at approximately $238,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David J. Rintoul sold 17,640 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $36.57, for a total transaction of $645,094.80. Following the completion of the transaction, the senior vice president now directly owns 63,449 shares in the company, valued at approximately $2,320,329.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,698 shares of company stock worth $2,535,286. 1.00% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in United States Steel by 0.4% during the 2nd quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock worth $317,570,000 after buying an additional 63,943 shares during the period. Amerigo Asset Management bought a new stake in shares of United States Steel in the 3rd quarter worth about $158,558,000. State Street Corp increased its position in shares of United States Steel by 6.2% in the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock worth $130,394,000 after purchasing an additional 341,591 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of United States Steel by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock worth $71,851,000 after purchasing an additional 236,714 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of United States Steel by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock worth $50,558,000 after purchasing an additional 41,931 shares during the last quarter. 64.22% of the stock is currently owned by hedge funds and other institutional investors.

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United States Steel 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).

Analyst Recommendations for United States Steel (NYSE:X)

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