United States Steel (NYSE:X) Trading Down 2.6% – Here’s Why

United States Steel Co. (NYSE:X) shares dropped 2.6% during 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 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 Analysts Forecast Growth

Several research firms have weighed in on X. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. BMO Capital Markets cut their price target on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Friday, September 6th. Jefferies Financial Group lowered their price objective on shares of 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, JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.37.

United States Steel Price Performance

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

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

United States Steel Announces Dividend

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

Institutional Investors Weigh In On United States Steel

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in United States Steel during the second quarter valued at $26,000. Palouse Capital Management Inc. purchased a new stake in shares of United States Steel in the 3rd quarter valued at about $35,000. Gladius Capital Management LP bought a new stake in shares of United States Steel during the 3rd quarter valued at about $39,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of United States Steel during the second quarter worth about $46,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of United States Steel in the third quarter worth approximately $59,000. 81.92% of the stock is owned by hedge funds and other 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.