United States Steel (NYSE:X) Upgraded to Buy by Glj Research

Glj Research upgraded shares of United States Steel (NYSE:X) from a sell rating to a buy rating in a research note published on Monday morning, MarketBeat.com reports. They currently have $38.57 price target on the basic materials company’s stock.

X has been the subject of a number of other reports. BNP Paribas upgraded United States Steel from a neutral rating to an outperform rating and set a $40.00 price objective for the company in a research report on Friday, September 6th. Jefferies Financial Group dropped their price target on shares of United States Steel from $47.00 to $41.00 and set a buy rating for the company in a research note on Thursday, September 5th. StockNews.com started coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a hold rating on the stock. JPMorgan Chase & Co. upgraded shares of United States Steel from a neutral rating to an overweight rating and upped their target price for the company from $40.00 to $42.00 in a research report on Monday. Finally, Morgan Stanley lifted their price objective on United States Steel from $48.00 to $49.00 and gave the stock an overweight rating in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, United States Steel currently has an average rating of Moderate Buy and an average target price of $39.76.

United States Steel Stock Up 4.2 %

Shares of NYSE X opened at $34.78 on Monday. United States Steel has a 12-month low of $26.92 and a 12-month high of $50.20. The firm’s 50-day simple moving average is $38.30 and its 200 day simple moving average is $39.13. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 10.20 and a beta of 1.88.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. United States Steel’s revenue was down 17.8% compared to the same quarter last year. On average, research analysts expect that United States Steel will post 2.19 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s payout ratio is currently 5.87%.

Hedge Funds Weigh In On United States Steel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Third Point LLC boosted its position in United States Steel by 15.8% during the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after acquiring an additional 750,000 shares during the last quarter. KGH Ltd lifted its position in shares of United States Steel by 68.2% in the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Norges Bank bought a new stake in shares of United States Steel in the fourth quarter worth $200,952,000. Massachusetts Financial Services Co. MA boosted its holdings in United States Steel by 4,305.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after purchasing an additional 3,551,870 shares during the last quarter. Finally, Alpine Associates Management Inc. grew its position in United States Steel by 13.5% in the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock valued at $100,848,000 after purchasing an additional 316,800 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.