United States Steel (NYSE:X) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

United States Steel (NYSE:X - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $44.00 to $40.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the basic materials company's stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets decreased their price objective on shares of United States Steel from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Jefferies Financial Group cut their price objective on United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Bank of America initiated coverage on United States Steel in a research report on Monday, January 6th. They issued a "neutral" rating and a $35.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, United States Steel has a consensus rating of "Moderate Buy" and an average price target of $41.07.

United States Steel Stock Up 0.7 %

Shares of NYSE:X traded up $0.25 during mid-day trading on Friday, hitting $36.05. 3,415,790 shares of the company traded hands, compared to its average volume of 7,242,722. The firm's 50 day simple moving average is $35.61 and its 200 day simple moving average is $37.19. The firm has a market cap of $8.12 billion, a P/E ratio of 23.72 and a beta of 1.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. United States Steel has a 52-week low of $26.92 and a 52-week high of $48.85.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The business's revenue for the quarter was down 13.0% compared to the same quarter last year. On average, equities analysts anticipate that United States Steel will post 1.99 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. Investors of record on Monday, November 11th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. United States Steel's payout ratio is currently 13.16%.

Institutional Trading of United States Steel

Hedge funds have recently bought and sold shares of the company. Castle Hook Partners LP acquired a new position in United States Steel during the 3rd quarter worth $91,712,000. KGH Ltd raised its position in shares of 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 buying an additional 1,724,670 shares in the last quarter. Holocene Advisors LP bought a new stake in United States Steel during the third quarter worth approximately $51,620,000. Massachusetts Financial Services Co. MA increased its position in shares of United States Steel by 26.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company's stock valued at $162,477,000 after purchasing an additional 964,467 shares during the period. Finally, Forest Avenue Capital Management LP bought a new stake in shares of United States Steel in the 2nd quarter worth $22,770,000. 81.92% of the stock is currently owned by institutional investors.

About United States Steel

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.