United States Steel (NYSE:X) Shares Gap Up - What's Next?

Shares of United States Steel Co. (NYSE:X - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $42.90, but opened at $44.25. United States Steel shares last traded at $45.39, with a volume of 3,344,488 shares traded.

Wall Street Analysts Forecast Growth

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

United States Steel Stock Performance

The stock's 50-day moving average price is $42.72 and its 200-day moving average price is $38.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 1.53 and a beta of 1.82.

United States Steel (NYSE:X - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.54 billion. United States Steel had a return on equity of 4.27% and a net margin of 2.46%. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, equities research analysts expect that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.37%. The ex-dividend date is Monday, May 12th. United States Steel's payout ratio is 68.97%.

Hedge Funds Weigh In On United States Steel

Several institutional investors and hedge funds have recently bought and sold shares of X. Bessemer Group Inc. increased its position in United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company's stock worth $25,000 after purchasing an additional 277 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of United States Steel by 643.8% in the first quarter. Golden State Wealth Management LLC now owns 595 shares of the basic materials company's stock worth $25,000 after acquiring an additional 515 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in shares of United States Steel in the fourth quarter worth $27,000. HM Payson & Co. increased its position in shares of United States Steel by 57.2% in the first quarter. HM Payson & Co. now owns 706 shares of the basic materials company's stock worth $30,000 after acquiring an additional 257 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of United States Steel in the fourth quarter worth $31,000. 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.