BMO Capital Markets Lowers United States Steel (NYSE:X) Price Target to $40.00

United States Steel (NYSE:X - Free Report) had its target price decreased by BMO Capital Markets from $43.00 to $40.00 in a research note issued to investors on Friday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the basic materials company's stock.

A number of other equities analysts have also recently issued reports on X. Glj Research upgraded shares of United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price target on the stock in a research note on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of United States Steel from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Jefferies Financial Group reduced their price target on shares of United States Steel from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. Finally, BNP Paribas raised United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price objective on the stock in a research report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.37.

United States Steel Stock Down 5.0 %

United States Steel stock traded down $1.58 during trading hours on Friday, hitting $30.14. 11,082,981 shares of the stock traded hands, compared to its average volume of 4,617,460. United States Steel has a one year low of $26.92 and a one year high of $48.95. The firm's 50-day moving average price is $38.01 and its two-hundred day moving average price is $37.79. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The company has a market cap of $6.79 billion, a PE ratio of 19.83 and a beta of 1.83.

United States Steel (NYSE:X - Get Free Report) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.15. The firm had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company's quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. On average, research analysts forecast that United States Steel will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, November 8th. United States Steel's dividend payout ratio (DPR) is currently 13.16%.

Hedge Funds Weigh In On United States Steel

Several large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its position in shares of United States Steel by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company's stock valued at $1,016,000 after acquiring an additional 241 shares in the last quarter. Rakuten Securities Inc. raised its stake in United States Steel by 9.2% during the 3rd quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company's stock valued at $118,000 after purchasing an additional 279 shares during the period. Founders Capital Management lifted its holdings in United States Steel by 9.4% in the 3rd quarter. Founders Capital Management now owns 3,500 shares of the basic materials company's stock worth $124,000 after purchasing an additional 300 shares in the last quarter. D.A. Davidson & CO. boosted its stake in United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company's stock worth $1,570,000 after purchasing an additional 301 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in United States Steel by 1.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company's stock valued at $658,000 after buying an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company's stock.

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.