POSCO (NYSE:PKX) Upgraded by UBS Group to Hold Rating

Key Points

• UBS Group upgraded POSCO from a "strong sell" to a "hold" rating, indicating a more favorable view of the stock.
• POSCO's stock has moved up by 2.3%, reflecting a positive trend following analyst upgrades from various firms.
• Despite being upgraded, POSCO reported earnings per share (EPS) of $0.35 for the last quarter, falling short of the expected $0.52.

UBS Group upgraded shares of POSCO (NYSE:PKX - Free Report) from a strong sell rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

PKX has been the subject of a number of other reports. Morgan Stanley upgraded POSCO from an "equal weight" rating to an "overweight" rating in a report on Friday, July 4th. Wall Street Zen raised POSCO from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy".

POSCO Stock Down 1.8%

Shares of NYSE PKX traded down $1.01 during mid-day trading on Thursday, reaching $53.48. The company had a trading volume of 88,143 shares, compared to its average volume of 252,476. POSCO has a 12-month low of $39.40 and a 12-month high of $74.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.89. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 66.02, a PEG ratio of 0.38 and a beta of 1.36. The stock has a fifty day moving average of $54.44 and a two-hundred day moving average of $49.34.

POSCO (NYSE:PKX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.17). The firm had revenue of $12.66 billion for the quarter, compared to analyst estimates of $13.21 billion. POSCO had a net margin of 0.69% and a return on equity of 0.81%. As a group, equities research analysts expect that POSCO will post 3.74 EPS for the current year.

Hedge Funds Weigh In On POSCO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKX. Parvin Asset Management LLC acquired a new stake in POSCO during the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new stake in POSCO during the 2nd quarter worth about $66,000. Headlands Technologies LLC boosted its stake in shares of 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 buying an additional 1,328 shares during the last quarter. MAI Capital Management bought a new position in shares of POSCO in the 2nd quarter valued at about $73,000. Finally, GAMMA Investing LLC boosted its position in POSCO by 329.1% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 1,231 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.