United States Steel (X) Downgraded by Credit Suisse Group

Credit Suisse Group cut shares of United States Steel (NYSE:X) from an outperform rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Other analysts also recently issued reports about the company. TD Securities restated an average rating on shares of United States Steel in a research report on Monday, November 12th. Seaport Global Securities initiated coverage on United States Steel in a research report on Thursday, October 11th. They set a buy rating and a $35.00 price objective for the company. Deutsche Bank downgraded United States Steel from a buy rating to a hold rating and dropped their price objective for the stock from $47.00 to $35.00 in a research report on Tuesday, October 2nd. ValuEngine upgraded United States Steel from a sell rating to a hold rating in a research report on Wednesday, September 26th. Finally, BMO Capital Markets restated a hold rating and set a $26.00 price objective on shares of United States Steel in a research report on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. United States Steel has a consensus rating of Hold and an average price target of $37.67.

X opened at $21.04 on Tuesday. The firm has a market cap of $3.69 billion, a PE ratio of 10.85, a P/E/G ratio of 0.56 and a beta of 2.77. United States Steel has a 52-week low of $17.08 and a 52-week high of $47.64. The company has a current ratio of 1.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

United States Steel (NYSE:X) last released its earnings results on Friday, November 2nd. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. United States Steel’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts forecast that United States Steel will post 5.38 earnings per share for the current year.

United States Steel declared that its board has approved a stock repurchase plan on Thursday, November 1st that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

In other news, VP James E. Bruno sold 12,000 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $25.75, for a total value of $309,000.00. Following the completion of the sale, the vice president now owns 54,137 shares of the company’s stock, valued at $1,394,027.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Bradley purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was bought at an average cost of $29.53 per share, with a total value of $295,300.00. Following the purchase, the chief financial officer now owns 102,785 shares of the company’s stock, valued at approximately $3,035,241.05. The disclosure for this purchase can be found here. 1.01% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of United States Steel by 1.2% in the third quarter. Vanguard Group Inc. now owns 16,224,060 shares of the basic materials company’s stock valued at $494,509,000 after buying an additional 194,618 shares during the period. Vanguard Group Inc increased its stake in shares of United States Steel by 1.2% in the third quarter. Vanguard Group Inc now owns 16,224,060 shares of the basic materials company’s stock valued at $494,509,000 after buying an additional 194,618 shares during the period. BlackRock Inc. increased its stake in shares of United States Steel by 4.3% in the third quarter. BlackRock Inc. now owns 15,829,392 shares of the basic materials company’s stock valued at $482,480,000 after buying an additional 654,678 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of United States Steel by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,921,315 shares of the basic materials company’s stock valued at $149,998,000 after buying an additional 223,665 shares during the period. Finally, Luminus Management LLC increased its stake in shares of United States Steel by 34.2% in the third quarter. Luminus Management LLC now owns 3,342,501 shares of the basic materials company’s stock valued at $101,879,000 after buying an additional 851,000 shares during the period. 63.19% of the stock is owned by institutional investors.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.

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Analyst Recommendations for United States Steel (NYSE:X)

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