United States Steel (NYSE:X) Price Target Lowered to $43.00 at BMO Capital Markets

United States Steel (NYSE:X) had its target price lowered by analysts at BMO Capital Markets from $45.00 to $43.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential upside of 10.00% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Morgan Stanley lifted their target price on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Jefferies Financial Group reduced their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, StockNews.com began coverage on United States Steel in a research report on Monday, August 19th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Stock Up 0.6 %

X traded up $0.24 during midday trading on Friday, hitting $39.09. 2,241,850 shares of the company’s stock traded hands, compared to its average volume of 4,334,008. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. The company has a market cap of $8.79 billion, a PE ratio of 17.45 and a beta of 1.87. United States Steel has a one year low of $26.92 and a one year high of $50.20. The stock’s fifty day simple moving average is $36.49 and its 200-day simple moving average is $37.72.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business earned $1.92 EPS. The firm’s revenue was down 17.8% compared to the same quarter last year. As a group, equities analysts anticipate that United States Steel will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United States Steel

Several large investors have recently bought and sold shares of X. Van ECK Associates Corp grew its stake in shares of United States Steel by 199.6% during the third quarter. Van ECK Associates Corp now owns 377,351 shares of the basic materials company’s stock worth $13,332,000 after purchasing an additional 251,391 shares during the period. Palliser Capital UK Ltd grew its position in shares of United States Steel by 112.1% during the 3rd quarter. Palliser Capital UK Ltd now owns 332,100 shares of the basic materials company’s stock worth $11,733,000 after buying an additional 175,500 shares during the period. Stephens Inc. AR bought a new stake in shares of United States Steel in the 3rd quarter valued at about $269,000. US Bancorp DE raised its position in shares of United States Steel by 40.1% in the 3rd quarter. US Bancorp DE now owns 9,018 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 2,581 shares during the period. Finally, Donald Smith & CO. Inc. boosted its stake in United States Steel by 7.4% during the 3rd quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock worth $166,752,000 after acquiring an additional 326,876 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.