POSCO (NYSE:PKX) Issues Earnings Results

Key Points

• POSCO reported earnings of $0.35 EPS for the quarter, missing the consensus estimate of $0.52 EPS by $0.17.
• The company's revenue for the quarter was $12.66 billion, falling short of analyst estimates of $13.21 billion.
• POSCO's stock saw a decline, trading down $2.69 on Friday, with a current price of $51.95 amid a market cap of $15.77 billion.

POSCO (NYSE:PKX - Get Free Report) released its earnings results on Thursday. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.17), Zacks reports. POSCO had a net margin of 0.69% and a return on equity of 0.81%. The firm had revenue of $12.66 billion during the quarter, compared to the consensus estimate of $13.21 billion.

POSCO Trading Up 0.1%

Shares of PKX traded up $0.08 during mid-day trading on Wednesday, reaching $53.92. 53,367 shares of the company were exchanged, compared to its average volume of 267,877. The business has a 50 day simple moving average of $52.14 and a two-hundred day simple moving average of $48.23. POSCO has a 52 week low of $39.40 and a 52 week high of $74.01. The stock has a market capitalization of $16.36 billion, a PE ratio of 66.57, a PEG ratio of 0.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.89.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley raised POSCO from an "equal weight" rating to an "overweight" rating in a report on Friday, July 4th. Wall Street Zen upgraded POSCO from a "sell" rating to a "hold" rating in a research report on Saturday.

Institutional Investors Weigh In On POSCO

An institutional investor recently raised its position in POSCO stock. Goldman Sachs Group Inc. increased its holdings in shares of POSCO (NYSE:PKX - Free Report) by 57.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 423,253 shares of the basic materials company's stock after purchasing an additional 154,100 shares during the period. Goldman Sachs Group Inc. owned approximately 0.14% of POSCO worth $20,117,000 at the end of the most recent quarter.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.