#2 - United States Steel Corporation (NYSE:X)
United States Steel Corporation (NYSE: X) – Another steel manufacturer that is likely to benefit from the tariffs is U.S. Steel. Like Nucor, U.S. Steel’s customer base spans the industries that are in most need of steel including appliances and industrial machinery. The company announced the restarting of the second of two blast furnaces that would result in hiring 300 workers. With steel prices up almost 38% in 2018, including more than 13% since March 1, the stock is reporting solid fundamentals with a balance sheet and earnings growth that are stronger than their peers. The company’s revenues are expected to increase by over a billion dollars with earnings per share forecast to rise over 200 percent to $4.15. However, the benefit to their stock hasn’t quite materialized. The stock is still trading at just below $30 per share, but Bank of America has given the stock a $49 price target which would be above its current 52-week high of $47.64.
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.
Read More - Current Price
- $37.42
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $37.89 (1.3% Upside)
