United States Steel (NYSE:X) Shares Gap Down - What's Next?

Shares of United States Steel Co. (NYSE:X - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $31.72, but opened at $30.20. United States Steel shares last traded at $30.86, with a volume of 690,222 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price 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. BNP Paribas raised shares of United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 target price for the company in a report on Friday, September 6th. JPMorgan Chase & Co. raised shares of United States Steel from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research raised 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 report on Monday, September 9th. Finally, BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, United States Steel has an average rating of "Moderate Buy" and a consensus target price of $42.37.

United States Steel Trading Down 5.0 %

The stock has a market capitalization of $6.79 billion, a P/E ratio of 19.83 and a beta of 1.83. The business has a 50 day simple moving average of $38.01 and a 200-day simple moving average of $37.79. 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 (NYSE:X - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The company's revenue for the quarter was down 13.0% compared to the same quarter last year. On average, analysts predict that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a 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%.

Institutional Investors Weigh In On United States Steel

A number of institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new position in shares of United States Steel during the second quarter valued at about $26,000. Palouse Capital Management Inc. purchased a new position in shares of United States Steel in the 3rd quarter worth approximately $35,000. Blue Trust Inc. grew its holdings in shares of United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 773 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of United States Steel during the third quarter valued at approximately $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in United States Steel during the second quarter worth $46,000. 81.92% of the stock is 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.