POSCO (NYSE:PKX) Rating Lowered to Sell at Wall Street Zen

Wall Street Zen lowered shares of POSCO (NYSE:PKX - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

POSCO Stock Down 2.4%

PKX stock traded down $1.16 during midday trading on Friday, reaching $46.58. 146,168 shares of the company were exchanged, compared to its average volume of 260,225. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.89. POSCO has a 1-year low of $39.40 and a 1-year high of $74.01. The stock's 50-day simple moving average is $45.67 and its 200 day simple moving average is $46.06. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 0.34 and a beta of 1.35.

POSCO (NYSE:PKX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.12 billion. POSCO had a return on equity of 1.45% and a net margin of 1.20%. On average, equities analysts forecast that POSCO will post 3.74 earnings per share for the current year.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently modified their holdings of PKX. Parvin Asset Management LLC purchased a new position in shares of POSCO during the fourth quarter worth approximately $29,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of POSCO during the fourth quarter worth approximately $41,000. GAMMA Investing LLC grew its position in POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock valued at $76,000 after buying an additional 1,231 shares during the last quarter. Brooklyn Investment Group grew its position in POSCO by 938.0% in the 1st quarter. Brooklyn Investment Group now owns 2,647 shares of the basic materials company's stock valued at $126,000 after buying an additional 2,392 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in POSCO by 10.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock valued at $162,000 after buying an additional 316 shares during the last quarter.

About POSCO

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.