POSCO (NYSE:PKX) Stock Rating Lowered by Zacks Research

POSCO (NYSE:PKX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

PKX has been the subject of several other research reports. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

POSCO Stock Performance

POSCO stock opened at $56.33 on Tuesday. POSCO has a fifty-two week low of $44.99 and a fifty-two week high of $92.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.37 and a current ratio of 1.98. The stock has a market cap of $17.04 billion, a P/E ratio of 21.34 and a beta of 1.60. The firm’s fifty day moving average price is $57.88 and its 200-day moving average price is $61.56.

POSCO (NYSE:PKX) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.45. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.96 billion. POSCO had a net margin of 1.79% and a return on equity of 1.99%. On average, equities research analysts expect that POSCO will post 4.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nykredit A S purchased a new stake in POSCO in the second quarter worth $13,269,000. Quantinno Capital Management LP boosted its holdings in POSCO by 82.7% in the first quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock valued at $11,729,000 after acquiring an additional 90,777 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in POSCO during the 4th quarter valued at $3,141,000. Bank of America Corp DE raised its holdings in POSCO by 96.2% in the 1st quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock worth $6,380,000 after purchasing an additional 53,469 shares in the last quarter. Finally, Barometer Capital Management Inc. bought a new position in POSCO in the 1st quarter worth $1,392,000.

POSCO Company Profile

POSCO is a South Korean steel producer that manufactures and sells a broad range of steel products for the automotive, shipbuilding, construction, energy, and general manufacturing industries. Its product portfolio includes hot- and cold-rolled steel, galvanized and electrical steel, stainless steel, wire rod, plates, and other specialty materials.

The company operates major integrated steel facilities in Pohang and Gwangyang, South Korea, and serves customers in domestic and international markets.