POSCO (NYSE:PKX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• POSCO shares have recently crossed above their 200-day moving average, reaching a high of $51.82, indicating potential bullish sentiment.
• Several Wall Street analysts have upgraded POSCO's stock rating, with an average rating of "Moderate Buy" currently assigned.
• The company reported a miss in earnings for the last quarter, with earnings per share of $0.35 against an expected $0.52, and a revenue shortfall of $12.66 billion compared to $13.21 billion predicted.

POSCO (NYSE:PKX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.93 and traded as high as $51.82. POSCO shares last traded at $51.13, with a volume of 139,336 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on PKX shares. UBS Group raised POSCO from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded POSCO from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley upgraded shares of POSCO from an "equal weight" rating to an "overweight" rating in a research note on Friday, July 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

POSCO Trading Down 1.9%

The company has a market cap of $15.52 billion, a price-to-earnings ratio of 63.11, a PEG ratio of 0.36 and a beta of 1.41. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.26. The business's fifty day simple moving average is $54.55 and its two-hundred day simple moving average is $50.05.

POSCO (NYSE:PKX - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.17). POSCO had a net margin of 0.69% and a return on equity of 0.82%. The company had revenue of $12.66 billion during the quarter, compared to analysts' expectations of $13.21 billion. On average, equities analysts predict that POSCO will post 3.74 EPS for the current year.

Institutional Trading of POSCO

A number of large investors have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. grew its stake in POSCO by 27.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 86,481 shares of the basic materials company's stock worth $3,750,000 after buying an additional 18,746 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of POSCO during the fourth quarter worth approximately $770,000. Graham Capital Management L.P. increased its holdings in shares of POSCO by 35.7% in the 4th quarter. Graham Capital Management L.P. now owns 4,950 shares of the basic materials company's stock valued at $215,000 after acquiring an additional 1,302 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of POSCO by 24.1% in the 4th quarter. Nuveen Asset Management LLC now owns 25,337 shares of the basic materials company's stock valued at $1,099,000 after acquiring an additional 4,913 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in POSCO in the 4th quarter valued at $1,500,000.

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.