United States Steel (NYSE:X) Shares Gap Up – What’s Next?

United States Steel Co. (NYSE:X)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $42.98, but opened at $44.80. United States Steel shares last traded at $43.70, with a volume of 3,025,079 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective for the company. BMO Capital Markets upped their price target on United States Steel from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley boosted their target price on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Trading Up 0.7 %

The firm has a market capitalization of $9.80 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $38.38 and a 200-day simple moving average of $37.07.

United States Steel (NYSE:X) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. On average, equities research analysts forecast that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.46%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Institutional Trading of United States Steel

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of United States Steel by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 216,382 shares of the basic materials company’s stock worth $7,355,000 after purchasing an additional 3,837 shares during the period. Heck Capital Advisors LLC bought a new position in United States Steel in the 4th quarter worth $554,000. Forum Financial Management LP increased its stake in United States Steel by 7.5% in the 4th quarter. Forum Financial Management LP now owns 7,051 shares of the basic materials company’s stock worth $240,000 after buying an additional 490 shares in the last quarter. Inspire Trust Co. N.A. purchased a new stake in United States Steel in the 4th quarter worth $1,292,000. Finally, Wexford Capital LP raised its holdings in United States Steel by 193.7% during the fourth quarter. Wexford Capital LP now owns 443,951 shares of the basic materials company’s stock valued at $15,090,000 after acquiring an additional 292,811 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.