United States Steel’s (X) “Peer Perform” Rating Reiterated at Wolfe Research

Wolfe Research restated their peer perform rating on shares of United States Steel (NYSE:X) in a report issued on Tuesday morning, Marketbeat reports.

Several other brokerages also recently issued reports on X. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 price target on shares of United States Steel in a report on Monday, March 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $43.00) on shares of United States Steel in a report on Wednesday, April 16th. Finally, Morgan Stanley upped their price target on shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel presently has a consensus rating of “Hold” and an average price target of $41.37.

United States Steel Trading Down 0.1%

Shares of United States Steel stock opened at $53.27 on Tuesday. United States Steel has a 52-week low of $26.92 and a 52-week high of $54.00. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The company’s 50-day simple moving average is $43.21 and its 200-day simple moving average is $39.00. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 35.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.82.

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

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Monday, May 12th. United States Steel’s payout ratio is 68.97%.

Institutional Investors Weigh In On United States Steel

A number of large investors have recently added to or reduced their stakes in X. SG Americas Securities LLC grew its holdings in United States Steel by 25.8% during the 4th quarter. SG Americas Securities LLC now owns 4,575 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 937 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in United States Steel by 153.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,201 shares of the basic materials company’s stock worth $517,000 after acquiring an additional 9,210 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in United States Steel by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 23,936 shares of the basic materials company’s stock worth $814,000 after acquiring an additional 605 shares in the last quarter. Blue Trust Inc. grew its holdings in United States Steel by 36.6% during the 4th quarter. Blue Trust Inc. now owns 3,781 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 1,014 shares in the last quarter. Finally, KBC Group NV grew its holdings in United States Steel by 57.6% during the 4th quarter. KBC Group NV now owns 8,796 shares of the basic materials company’s stock worth $299,000 after acquiring an additional 3,216 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.