United States Steel (NYSE:X) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of United States Steel (NYSE:X) in a research note issued on Monday. The brokerage set a “hold” rating on the basic materials company’s stock.

Several other equities research analysts have also recently issued reports on X. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 9th. BMO Capital Markets reduced their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. started coverage on shares of United States Steel in a research report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.89.

United States Steel Price Performance

Shares of NYSE:X opened at $36.51 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20. The company has a market capitalization of $8.21 billion, a P/E ratio of 10.40 and a beta of 2.01. The firm’s 50 day simple moving average is $42.07 and its two-hundred day simple moving average is $41.49.

United States Steel (NYSE:X) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Research analysts expect that United States Steel will post 2.99 EPS for the current fiscal year.

Institutional Trading of United States Steel

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in United States Steel by 308.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock worth $16,127,000 after acquiring an additional 250,311 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in United States Steel by 16,065.0% during the 4th quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock worth $1,572,000 after acquiring an additional 32,130 shares in the last quarter. International Assets Investment Management LLC grew its holdings in United States Steel by 4,057.9% during the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after acquiring an additional 729,574 shares in the last quarter. SG Americas Securities LLC grew its holdings in United States Steel by 1,132.8% during the 4th quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock worth $5,630,000 after acquiring an additional 106,329 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new stake in shares of United States Steel in the 3rd quarter valued at about $7,435,000. 81.92% of the stock is 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. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.