BMO Capital Markets Cuts United States Steel (NYSE:X) Price Target to $43.00

United States Steel (NYSE:X - Get Free Report) had its price target lowered by research analysts at BMO Capital Markets from $45.00 to $43.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the basic materials company's stock. BMO Capital Markets' price target indicates a potential upside of 11.34% from the stock's previous close.

A number of other brokerages have also commented on X. BNP Paribas upgraded shares of United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Friday, September 6th. Jefferies Financial Group lowered their price objective on 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. StockNews.com initiated coverage on United States Steel in a report on Monday, August 19th. They issued a "hold" rating on the stock. Morgan Stanley raised their price target on shares of United States Steel from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th. Finally, Glj Research upgraded shares of United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.32.

United States Steel Price Performance

United States Steel stock traded down $0.23 during midday trading on Friday, reaching $38.62. The company's stock had a trading volume of 6,798,194 shares, compared to its average volume of 4,358,500. The business has a 50-day moving average price of $36.49 and a 200-day moving average price of $37.72. United States Steel has a 52 week low of $26.92 and a 52 week high of $50.20. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market cap of $8.69 billion, a PE ratio of 17.38 and a beta of 1.87.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.12. The firm had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The company's revenue was down 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, sell-side analysts predict that United States Steel will post 2.17 EPS for the current year.

Institutional Investors Weigh In On United States Steel

Several hedge funds and other institutional investors have recently modified their holdings of X. Donald Smith & CO. Inc. increased its position in shares of United States Steel by 7.4% during the third quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company's stock worth $166,752,000 after acquiring an additional 326,876 shares in the last quarter. KGH Ltd increased its holdings in United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company's stock worth $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of United States Steel by 4,305.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company's stock worth $137,379,000 after purchasing an additional 3,551,870 shares during the last quarter. Alpine Associates Management Inc. lifted its holdings in shares of United States Steel by 13.5% in the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company's stock valued at $100,848,000 after purchasing an additional 316,800 shares in the last quarter. Finally, Murchinson Ltd. boosted its position in shares of United States Steel by 66.5% during the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company's stock valued at $85,638,000 after buying an additional 838,653 shares during the last quarter. 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.