United States Steel (NYSE:X) Price Target Cut to $8.00 by Analysts at Credit Suisse Group

United States Steel (NYSE:X) had its price objective reduced by Credit Suisse Group from $9.00 to $8.00 in a report released on Thursday, BenzingaRatingsTable reports. They currently have an underperform rating on the basic materials company’s stock.

A number of other analysts have also commented on the company. Macquarie lowered United States Steel from an outperform rating to an underperform rating and reduced their target price for the stock from $18.00 to $9.00 in a report on Thursday. Vertical Group raised United States Steel from a sell rating to a buy rating in a report on Wednesday, June 19th. Deutsche Bank lowered United States Steel from a hold rating to a sell rating and set a $12.64 target price for the company. in a report on Thursday, May 30th. Bank of America reissued an underperform rating and issued a $12.00 target price on shares of United States Steel in a report on Friday, May 31st. Finally, ValuEngine lowered United States Steel from a sell rating to a strong sell rating in a report on Monday, August 26th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $17.95.

Shares of NYSE:X opened at $11.09 on Thursday. The stock has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $15.11. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 2.07, a PEG ratio of 2.38 and a beta of 3.01. United States Steel has a 12-month low of $10.16 and a 12-month high of $30.91. 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 (NYSE:X) last announced its quarterly earnings data 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 business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. United States Steel had a return on equity of 19.27% and a net margin of 6.95%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, equities research analysts predict that United States Steel will post 0.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, August 13th. United States Steel’s payout ratio is currently 3.73%.

Several institutional investors and hedge funds have recently modified their holdings of X. NEXT Financial Group Inc lifted its position in United States Steel by 139.8% during the second quarter. NEXT Financial Group Inc now owns 3,153 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 1,838 shares in the last quarter. Rational Advisors LLC lifted its position in shares of United States Steel by 178.5% in the second quarter. Rational Advisors LLC now owns 4,280 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 2,743 shares in the last quarter. CenterStar Asset Management LLC purchased a new position in shares of United States Steel in the second quarter valued at about $77,000. Coastal Investment Advisors Inc. lifted its position in shares of United States Steel by 5,611.0% in the second quarter. Coastal Investment Advisors Inc. now owns 5,711 shares of the basic materials company’s stock valued at $90,000 after acquiring an additional 5,611 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new stake in shares of United States Steel in the second quarter worth about $92,000. 60.77% of the stock is owned by 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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