An issue of United States Steel Co. (NYSE:X) debt fell 1.4% as a percentage of its face value during trading on Thursday. The debt issue has a 7.375% coupon and will mature on April 1, 2020. The bonds in the issue are now trading at $107.75 and were trading at $107.50 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.
Several research analysts have weighed in on X shares. TheStreet upgraded United States Steel from a “sell” rating to a “hold” rating in a research note on Friday, November 25th. Argus downgraded United States Steel from a “buy” rating to a “hold” rating and lowered their target price for the company from $33.78 to $6.15 in a research note on Tuesday, November 29th. Macquarie reiterated an “underperform” rating on shares of United States Steel in a research note on Wednesday, November 30th. JPMorgan Chase & Co. lifted their target price on United States Steel from $29.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, November 30th. Finally, Deutsche Bank AG lifted their target price on United States Steel from $24.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, December 5th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.15.
United States Steel Co. (NYSE:X) opened at 32.82 on Friday. United States Steel Co. has a one year low of $12.77 and a one year high of $41.83. The firm’s market capitalization is $5.72 billion. The company’s 50-day moving average price is $36.94 and its 200 day moving average price is $29.23.
United States Steel (NYSE:X) last released its quarterly earnings data on Tuesday, January 31st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.26. The firm earned $2.65 billion during the quarter, compared to the consensus estimate of $2.65 billion. United States Steel had a negative return on equity of 11.36% and a negative net margin of 4.29%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, analysts forecast that United States Steel Co. will post $2.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. United States Steel’s payout ratio is currently -6.83%.
Several hedge funds have recently added to or reduced their stakes in X. Diligent Investors LLC purchased a new stake in United States Steel during the fourth quarter valued at $404,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in United States Steel during the third quarter valued at $103,000. Tyers Asset Management LLC purchased a new stake in United States Steel during the fourth quarter valued at $196,000. Bluestein R H & Co. purchased a new stake in United States Steel during the fourth quarter valued at $214,000. Finally, First Allied Advisory Services Inc. purchased a new stake in United States Steel during the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.
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United States Steel Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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