POSCO (NYSE:PKX) Shares Gap Down - What's Next?

Key Points

• POSCO shares experienced a significant gap down, opening at $46.71 after closing at $48.33, with a last traded price of $46.39.
• Recent analyst reports show a mix of ratings with UBS upgrading to a "hold" and Weiss Ratings maintaining a "sell," leading to a consensus rating of "hold" for the stock.
• The company reported $0.35 EPS for the quarter, missing estimates by $0.17, alongside a revenue of $12.66 billion compared to the expected $13.21 billion.

POSCO (NYSE:PKX - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $48.33, but opened at $46.71. POSCO shares last traded at $46.39, with a volume of 16,492 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PKX shares. UBS Group raised shares of POSCO from a "strong sell" rating to a "hold" rating in a report on Thursday, August 21st. Weiss Ratings reissued a "sell (d+)" rating on shares of POSCO in a report on Wednesday. Morgan Stanley raised shares of POSCO from an "equal weight" rating to an "overweight" rating in a report on Friday, July 4th. Finally, Wall Street Zen raised shares of POSCO from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

POSCO Trading Down 5.0%

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 company's fifty day moving average is $51.79 and its two-hundred day moving average is $49.81. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 0.34 and a beta of 1.46.

POSCO (NYSE:PKX - Get Free Report) last announced 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 business had revenue of $12.66 billion during the quarter, compared to analyst estimates of $13.21 billion. On average, research analysts predict that POSCO will post 3.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC increased its stake in shares of POSCO by 11.1% during the 2nd quarter. Corient Private Wealth LLC now owns 24,500 shares of the basic materials company's stock valued at $1,188,000 after acquiring an additional 2,446 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in POSCO during the 2nd quarter worth approximately $278,000. Headlands Technologies LLC increased its position in POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company's stock worth $69,000 after purchasing an additional 1,328 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in POSCO during the 2nd quarter worth approximately $98,000. Finally, Vident Advisory LLC increased its position in POSCO by 50.2% during the 2nd quarter. Vident Advisory LLC now owns 68,898 shares of the basic materials company's stock worth $3,341,000 after purchasing an additional 23,036 shares in the last 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.

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