StockNews.com Initiates Coverage on United States Steel (NYSE:X)

Equities research analysts at StockNews.com began coverage on shares of United States Steel (NYSE:X - Get Free Report) in a report released on Thursday. The firm set a "hold" rating on the basic materials company's stock.

Other equities analysts have also issued research reports about the stock. Wolfe Research raised shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 price target on the stock in a report on Tuesday, April 9th. Jefferies Financial Group began coverage on United States Steel in a research note on Monday. They issued a "buy" rating and a $45.00 target price on the stock. Morgan Stanley raised United States Steel from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $51.00 to $48.00 in a research note on Monday, May 6th. JPMorgan Chase & Co. reduced their price objective on United States Steel from $47.00 to $43.00 and set a "neutral" rating on the stock in a research report on Friday, May 3rd. Finally, BMO Capital Markets dropped their target price on United States Steel from $55.00 to $45.00 and set a "market perform" rating for the company in a research report on Tuesday, March 19th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $38.78.

United States Steel Stock Performance

Shares of United States Steel stock traded down $0.29 during trading hours on Thursday, reaching $35.93. The company had a trading volume of 4,145,439 shares, compared to its average volume of 4,266,600. The firm has a market cap of $8.08 billion, a PE ratio of 10.62 and a beta of 2.06. United States Steel has a one year low of $20.40 and a one year high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The business has a fifty day simple moving average of $39.04 and a 200 day simple moving average of $41.92.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.01. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. On average, analysts anticipate that United States Steel will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Third Point LLC lifted its position in United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company's stock valued at $267,575,000 after purchasing an additional 750,000 shares during the period. Donald Smith & CO. Inc. lifted its holdings in shares of United States Steel by 11.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company's stock valued at $219,583,000 after buying an additional 447,186 shares during the period. KGH Ltd boosted its stake in shares of United States Steel by 7.5% in the 3rd quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company's stock worth $145,795,000 after buying an additional 315,000 shares during the last quarter. Norges Bank bought a new stake in shares of United States Steel in the fourth quarter worth $200,952,000. Finally, Charles Schwab Investment Management Inc. increased its position in United States Steel by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company's stock valued at $121,564,000 after acquiring an additional 94,080 shares during the last quarter. 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.