POSCO (NYSE:PKX) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded POSCO from “strong buy” to “hold,” bringing the stock’s consensus rating to “Hold.” Other analysts include one “Buy” and two “Hold” ratings.
• POSCO reported quarterly earnings of $1.30 per share, exceeding the $0.85 consensus estimate, while revenue of $12.43 billion also topped expectations.
• Shares opened at $56.33, with a market capitalization of $17.04 billion and a 52-week trading range of $44.99 to $92.40; institutional investors have recently initiated several positions.

POSCO (NYSE:PKX - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks reports.

Several other analysts also recently commented on PKX. Wall Street Zen raised shares of POSCO from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of POSCO from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, September 25th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, POSCO has a consensus rating of "Hold".

POSCO Stock Performance

Shares of PKX opened at $56.33 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30. The stock has a market cap of $17.04 billion, a P/E ratio of 21.34 and a beta of 1.60. The business's 50 day moving average price is $57.88 and its 200-day moving average price is $61.56. POSCO has a 52 week low of $44.99 and a 52 week high of $92.40.

POSCO (NYSE:PKX - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.45. POSCO had a return on equity of 1.99% and a net margin of 1.79%.The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.96 billion. Equities research analysts anticipate that POSCO will post 4.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Keybank National Association OH bought a new position in shares of POSCO in the 1st quarter worth approximately $200,000. MW Advisory LLC bought a new stake in POSCO during the second quarter valued at approximately $214,000. QRG Capital Management Inc. purchased a new stake in POSCO during the first quarter valued at approximately $219,000. Allspring Global Investments Holdings LLC purchased a new stake in POSCO during the first quarter valued at approximately $222,000. Finally, HB Wealth Management LLC bought a new position in POSCO in the first quarter worth approximately $285,000.

About POSCO

POSCO is a South Korean steel producer that manufactures and sells a broad range of steel products for the automotive, shipbuilding, construction, energy, and general manufacturing industries. Its product portfolio includes hot- and cold-rolled steel, galvanized and electrical steel, stainless steel, wire rod, plates, and other specialty materials.

The company operates major integrated steel facilities in Pohang and Gwangyang, South Korea, and serves customers in domestic and international markets.

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