United States Steel’s (X) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of United States Steel (NYSE:X) in a research report released on Monday morning, MarketBeat.com reports. They currently have a $39.00 price objective on the basic materials company’s stock.

X has been the topic of a number of other reports. Jefferies Financial Group decreased their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets lowered their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Finally, Bank of America assumed coverage on United States Steel in a research report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.82.

United States Steel Stock Performance

Shares of X opened at $37.95 on Monday. The stock has a market capitalization of $8.55 billion, a P/E ratio of 25.47 and a beta of 1.86. United States Steel has a 12-month low of $26.92 and a 12-month high of $48.13. The firm’s 50 day moving average is $35.16 and its 200-day moving average is $37.01. 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) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities research analysts anticipate that United States Steel will post 1.75 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. United States Steel’s dividend payout ratio is presently 13.42%.

Institutional Investors Weigh In On United States Steel

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameliora Wealth Management Ltd. purchased a new stake in shares of United States Steel in the 4th quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in United States Steel in the 4th quarter worth approximately $30,000. Newbridge Financial Services Group Inc. purchased a new stake in United States Steel during the 4th quarter valued at about $34,000. Palouse Capital Management Inc. acquired a new position in United States Steel during the third quarter valued at $35,000. Finally, Gladius Capital Management LP acquired a new position in shares of United States Steel in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors 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.