POSCO (NYSE:PKX) Shares Gap Up - Still a Buy?

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $45.39, but opened at $47.03. POSCO shares last traded at $47.61, with a volume of 28,654 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised POSCO from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

POSCO Trading Up 0.1%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The company has a market capitalization of $14.49 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35. The firm has a fifty day moving average price of $45.09 and a 200-day moving average price of $46.32.

POSCO (NYSE:PKX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.12 billion. On average, equities research analysts anticipate that POSCO Holdings Inc. will post 3.74 earnings per share for the current year.

Institutional Investors Weigh In On POSCO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of POSCO by 157.0% in the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company's stock valued at $18,613,000 after acquiring an additional 262,257 shares during the period. Nomura Holdings Inc. purchased a new position in POSCO during the 1st quarter valued at about $7,814,000. Goldman Sachs Group Inc. raised its position in POSCO by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company's stock valued at $20,117,000 after purchasing an additional 154,100 shares during the last quarter. Ovata Capital Management Ltd purchased a new stake in POSCO in the 4th quarter worth approximately $4,791,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in POSCO in the 4th quarter worth approximately $3,801,000.

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.