POSCO (NYSE:PKX) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

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) shares crossed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of POSCO from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group raised POSCO from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Morgan Stanley upgraded 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 issued a Hold rating to the stock. Based on data from MarketBeat, POSCO presently has an average rating of "Moderate Buy".

POSCO Trading Up 0.4%

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 firm has a market capitalization of $15.52 billion, a PE ratio of 63.13, a PEG ratio of 0.35 and a beta of 1.41. The stock's fifty day simple moving average is $54.98 and its 200 day simple moving average is $49.93.

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

Institutional Trading of POSCO

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its stake in shares of POSCO by 10.2% in the first quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock worth $162,000 after buying an additional 316 shares during the period. US Bancorp DE raised its stake in POSCO by 3.6% during the 2nd quarter. US Bancorp DE now owns 12,230 shares of the basic materials company's stock worth $593,000 after acquiring an additional 429 shares during the period. AQR Capital Management LLC raised its stake in POSCO by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company's stock worth $307,000 after acquiring an additional 495 shares during the period. Gilman Hill Asset Management LLC lifted its holdings in POSCO by 2.5% during the first quarter. Gilman Hill Asset Management LLC now owns 21,564 shares of the basic materials company's stock valued at $1,025,000 after purchasing an additional 535 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of POSCO by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 10,748 shares of the basic materials company's stock worth $511,000 after purchasing an additional 681 shares during the period.

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.

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