United States Steel (NYSE:X) Sets New 52-Week High - Time to Buy?

Shares of United States Steel Co. (NYSE:X - Get Free Report) reached a new 52-week high during trading on Saturday . The company traded as high as $54.00 and last traded at $52.50, with a volume of 53706631 shares traded. The stock had previously closed at $42.90.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of United States Steel in a research note on Tuesday. Morgan Stanley upped their price objective on shares of United States Steel from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Jefferies Financial Group reiterated a "hold" rating and issued a $55.00 target price (up from $50.00) on shares of United States Steel in a report on Tuesday. BMO Capital Markets reiterated a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $38.00 target price (down from $43.00) on shares of United States Steel in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.37.

United States Steel Trading Down 0.2%

The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 1.53 and a beta of 1.82. The business's 50 day simple moving average is $42.97 and its 200 day simple moving average is $38.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.54 billion. United States Steel had a net margin of 2.46% and a return on equity of 4.27%. The firm's revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. Research analysts anticipate that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Monday, May 12th. United States Steel's payout ratio is currently 68.97%.

Hedge Funds Weigh In On United States Steel

A number of institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in United States Steel during the fourth quarter worth approximately $130,731,000. Third Point LLC purchased a new stake in United States Steel during the first quarter worth approximately $153,192,000. Ancora Advisors LLC grew its stake in United States Steel by 448.9% during the first quarter. Ancora Advisors LLC now owns 2,641,762 shares of the basic materials company's stock worth $111,641,000 after buying an additional 2,160,512 shares during the period. Forest Avenue Capital Management LP purchased a new stake in United States Steel during the fourth quarter worth approximately $50,795,000. Finally, NWI Management LP purchased a new stake in United States Steel during the fourth quarter worth approximately $48,946,000. Institutional investors and hedge funds own 81.92% of the company's stock.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.