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

United States Steel (NYSE:X) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Vertical Group upgraded shares of United States Steel from a “sell” rating to a “buy” rating in a research report on Wednesday, June 19th. BMO Capital Markets restated a “market perform” rating on shares of United States Steel in a research report on Monday, May 6th. They noted that the move was a valuation call. Goldman Sachs Group lowered shares of United States Steel from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $17.00 to $11.00 in a research report on Tuesday, June 4th. Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of United States Steel in a research report on Friday, May 31st. Finally, UBS Group lowered shares of United States Steel from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $22.00 to $10.00 in a research report on Wednesday, May 8th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. United States Steel has an average rating of “Hold” and an average price target of $18.94.

X traded up $0.37 on Friday, reaching $11.28. The company had a trading volume of 10,881,407 shares, compared to its average volume of 11,437,867. The company has a fifty day moving average of $14.04 and a 200-day moving average of $16.87. The company has a market capitalization of $1.93 billion, a P/E ratio of 2.10, a PEG ratio of 2.22 and a beta of 2.97. 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 one year low of $10.85 and a one year high of $31.59.



United States Steel (NYSE:X) last announced its 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. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. United States Steel’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Research analysts predict that United States Steel will post 0.68 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in shares of United States Steel by 0.6% in the second quarter. Arizona State Retirement System now owns 125,118 shares of the basic materials company’s stock worth $1,916,000 after buying an additional 734 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of United States Steel by 2.5% in the second quarter. Crossmark Global Holdings Inc. now owns 31,940 shares of the basic materials company’s stock worth $489,000 after buying an additional 779 shares during the period. First Allied Advisory Services Inc. boosted its holdings in shares of United States Steel by 5.1% in the second quarter. First Allied Advisory Services Inc. now owns 18,051 shares of the basic materials company’s stock worth $276,000 after buying an additional 880 shares during the period. Mid Atlantic Financial Management Inc. ADV boosted its holdings in shares of United States Steel by 7.1% in the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 15,045 shares of the basic materials company’s stock worth $230,000 after buying an additional 1,000 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of United States Steel by 9.1% in the second quarter. World Asset Management Inc now owns 12,889 shares of the basic materials company’s stock worth $197,000 after buying an additional 1,071 shares during the period. Institutional investors own 62.02% 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. 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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