Weiss Ratings Reiterates "Sell (D+)" Rating for POSCO (NYSE:PKX)

Key Points

• Weiss Ratings has reiterated a "Sell (D+)" rating for POSCO (NYSE:PKX), indicating a negative outlook on the stock.
• Despite this, several other brokerages, including Morgan Stanley and UBS Group, have recently upgraded their ratings on POSCO to "overweight" and "hold," respectively.
• POSCO reported disappointing earnings, with an EPS of $0.35 for the last quarter, missing estimates by $0.17 and generating a revenue of $12.66 billion, below the expected $13.21 billion.

POSCO (NYSE:PKX - Get Free Report)'s stock had its "sell (d+)" rating reiterated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently issued reports on PKX. Morgan Stanley raised POSCO from an "equal weight" rating to an "overweight" rating in a research note on Friday, July 4th. Wall Street Zen raised POSCO from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, UBS Group raised POSCO from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

POSCO Stock Up 1.8%

Shares of PKX opened at $48.80 on Wednesday. The business's 50 day moving average is $51.91 and its 200 day moving average is $49.84. The company has a market capitalization of $14.81 billion, a PE ratio of 60.24, a price-to-earnings-growth ratio of 0.33 and a beta of 1.46. POSCO has a 12-month low of $39.40 and a 12-month high of $68.90. The company has a current ratio of 1.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26.

POSCO (NYSE:PKX - Get Free Report) last issued its 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 business had revenue of $12.66 billion for the quarter, compared to the consensus estimate of $13.21 billion. POSCO had a net margin of 0.69% and a return on equity of 0.82%. Research analysts expect that POSCO will post 3.74 earnings per share for the current fiscal year.

Institutional Trading of POSCO

Hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of POSCO during the 2nd quarter worth approximately $66,000. Headlands Technologies LLC boosted its holdings in shares of POSCO by 1,276.9% in 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 during the period. MAI Capital Management purchased a new position in shares of POSCO in the 2nd quarter worth approximately $73,000. GAMMA Investing LLC boosted its holdings in shares of POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock worth $76,000 after purchasing an additional 1,231 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of POSCO by 604.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,642 shares of the basic materials company's stock worth $80,000 after purchasing an additional 1,409 shares during the period.

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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