JPMorgan Chase & Co. Lowers United States Steel (NYSE:X) Price Target to $43.00

United States Steel (NYSE:X) had its price target trimmed by JPMorgan Chase & Co. from $47.00 to $43.00 in a report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley downgraded shares of United States Steel from an overweight rating to an equal weight rating and boosted their target price for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. StockNews.com started coverage on United States Steel in a report on Monday, April 29th. They issued a hold rating for the company. BMO Capital Markets reduced their target price on United States Steel from $55.00 to $45.00 and set a market perform rating on the stock in a report on Tuesday, March 19th. Finally, Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $38.38.

United States Steel Trading Down 1.6 %

Shares of X opened at $36.47 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76. United States Steel has a one year low of $20.40 and a one year high of $50.20. The stock has a 50-day moving average price of $41.48 and a 200 day moving average price of $41.58. The company has a market capitalization of $8.20 billion, a P/E ratio of 10.70 and a beta of 2.06.

United States Steel (NYSE:X) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.68%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. Sell-side analysts forecast that United States Steel will post 2.99 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is 5.87%.

Institutional Investors Weigh In On United States Steel

Large investors have recently added to or reduced their stakes in the stock. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of United States Steel during the fourth quarter worth approximately $25,000. Byrne Asset Management LLC boosted its position in United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 570 shares during the period. GAMMA Investing LLC bought a new position in shares of United States Steel in the fourth quarter worth $33,000. Riverview Trust Co acquired a new position in shares of United States Steel during the first quarter valued at $29,000. Finally, Pineridge Advisors LLC bought a new stake in shares of United States Steel during the fourth quarter valued at about $44,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Company Profile

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.