StockNews.com Upgrades POSCO (NYSE:PKX) to Buy

POSCO (NYSE:PKX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

POSCO Stock Down 1.7 %

NYSE:PKX opened at $60.02 on Friday. POSCO has a 1-year low of $58.00 and a 1-year high of $98.00. The company has a market capitalization of $18.22 billion, a PE ratio of 18.64, a P/E/G ratio of 0.46 and a beta of 1.42. The firm’s 50-day moving average price is $65.86 and its 200-day moving average price is $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45.

POSCO (NYSE:PKX) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter. POSCO had a net margin of 1.91% and a return on equity of 2.27%. The firm had revenue of $13.50 billion during the quarter. On average, equities analysts predict that POSCO will post 4.99 EPS for the current fiscal year.

Hedge Funds Weigh In On POSCO

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in POSCO during the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC bought a new stake in shares of POSCO during the third quarter valued at approximately $49,000. GAMMA Investing LLC raised its holdings in POSCO by 138.0% in the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 505 shares during the last quarter. Advisors Preferred LLC bought a new position in POSCO in the 1st quarter valued at approximately $107,000. Finally, CWM LLC increased its holdings in shares of POSCO by 22.9% in the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 373 shares in the last quarter.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.