United States Steel (NYSE:X) Trading Down 2.6% – Time to Sell?

United States Steel Co. (NYSE:X) shares were down 2.6% during mid-day trading on Thursday . The company traded as low as $31.01 and last traded at $31.15. Approximately 2,371,025 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 4,613,725 shares. The stock had previously closed at $31.97.

Wall Street Analyst Weigh In

Several analysts recently commented on X shares. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. BMO Capital Markets decreased their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research note on Monday, September 9th. Jefferies Financial Group lowered their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.37.

United States Steel Price Performance

The business’s 50 day moving average is $37.56 and its two-hundred day moving average is $37.59. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The firm has a market cap of $7.02 billion, a P/E ratio of 20.50 and a beta of 1.83.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. United States Steel’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, analysts anticipate that United States Steel Co. will post 2.17 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, November 8th. United States Steel’s payout ratio is 13.16%.

Institutional Investors Weigh In On United States Steel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC purchased a new stake in United States Steel in the 2nd quarter valued at $26,000. Palouse Capital Management Inc. purchased a new stake in shares of United States Steel in the third quarter valued at about $35,000. Gladius Capital Management LP bought a new position in shares of United States Steel during the third quarter valued at about $39,000. Ashton Thomas Private Wealth LLC purchased a new position in United States Steel during the second quarter worth about $46,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in United States Steel during the third quarter worth about $59,000. 81.92% of the stock is owned by institutional investors.

United States Steel Company Profile

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.