Analysts Set United States Steel Co. (NYSE:X) Target Price at $37.89

United States Steel Co. (NYSE:X) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $37.89.

X has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Morgan Stanley lowered shares of United States Steel from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. initiated coverage on shares of United States Steel in a research report on Friday, January 12th. They set a “neutral” rating and a $52.00 price target on the stock. StockNews.com initiated coverage on shares of United States Steel in a research report on Sunday. They set a “hold” rating on the stock. Finally, Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 9th.

United States Steel Stock Up 0.6 %

Shares of NYSE X opened at $38.84 on Friday. The firm has a market cap of $8.73 billion, a PE ratio of 11.07 and a beta of 2.01. United States Steel has a 12-month low of $20.40 and a 12-month high of $50.20. The company’s fifty day simple moving average is $43.12 and its 200 day simple moving average is $41.33. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that United States Steel will post 3.18 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a $0.05 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is currently 5.70%.

Hedge Funds Weigh In On United States Steel

A number of large investors have recently modified their holdings of X. Byrne Asset Management LLC lifted its position in United States Steel by 1,140.0% during the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 570 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of United States Steel in the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new stake in shares of United States Steel in the 1st quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its holdings in shares of United States Steel by 181.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 635 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of United States Steel in the 4th quarter worth approximately $33,000. 81.92% of the stock is currently owned by institutional investors.

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.