United States Steel (NYSE:X) Price Target Lowered to $40.00 at BMO Capital Markets

United States Steel (NYSE:X) had its price target decreased by BMO Capital Markets from $43.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the basic materials company’s stock.

Several other research analysts have also recently commented on the company. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 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 for the company in a research report on Thursday, September 5th. Finally, Glj Research upgraded 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, United States Steel has an average rating of “Moderate Buy” and a consensus target price of $42.37.

United States Steel Stock Performance

Shares of United States Steel stock opened at $30.14 on Friday. The business’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $37.73. 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 $6.79 billion, a PE ratio of 19.83 and a beta of 1.83. United States Steel has a 52 week low of $26.92 and a 52 week high of $48.95.

United States Steel (NYSE:X) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping 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 was down 13.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 earnings per share. Equities analysts forecast that United States Steel will post 2.17 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 11th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. increased its stake in shares of United States Steel by 7.4% during the third quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock valued at $166,752,000 after acquiring an additional 326,876 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of United States Steel by 26.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company’s stock valued at $162,477,000 after acquiring an additional 964,467 shares during the last quarter. KGH Ltd boosted its stake in shares of United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after acquiring an additional 1,724,670 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of United States Steel by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock worth $135,691,000 after acquiring an additional 37,528 shares during the last quarter. Finally, Alpine Associates Management Inc. raised its position in shares of United States Steel by 13.5% during the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock worth $100,848,000 after purchasing an additional 316,800 shares during the period. 81.92% of the stock is 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.