United States Steel (NYSE:X) PT Lowered to $8.00 at Credit Suisse Group

United States Steel (NYSE:X) had its price objective decreased by Credit Suisse Group from $9.00 to $8.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has an underperform rating on the basic materials company’s stock.

Several other analysts have also recently commented on X. ValuEngine cut United States Steel from a sell rating to a strong sell rating in a report on Monday, August 26th. Vertical Group raised United States Steel from a sell rating to a buy rating in a research note on Wednesday, June 19th. Bank of America reaffirmed an underperform rating and issued a $12.00 price objective on shares of United States Steel in a research note on Friday, May 31st. Goldman Sachs Group downgraded United States Steel from a neutral rating to a sell rating and dropped their price objective for the company from $17.00 to $11.00 in a research note on Tuesday, June 4th. Finally, Macquarie downgraded United States Steel from an outperform rating to an underperform rating and dropped their price objective for the company from $18.00 to $9.00 in a research note on Thursday. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. United States Steel currently has a consensus rating of Hold and a consensus target price of $17.95.

X opened at $10.81 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.41 and a quick ratio of 0.74. The business has a 50 day simple moving average of $11.91 and a 200-day simple moving average of $15.05. The stock has a market capitalization of $1.89 billion, a P/E ratio of 2.02, a P/E/G ratio of 2.03 and a beta of 3.01. United States Steel has a 12 month low of $10.16 and a 12 month high of $30.91.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.43 billion. United States Steel had a return on equity of 19.27% and a net margin of 6.95%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Research analysts anticipate that United States Steel will post 0.45 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, August 13th. United States Steel’s payout ratio is 3.73%.

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its position in United States Steel by 448.6% during the second quarter. CWM LLC now owns 11,016 shares of the basic materials company’s stock worth $169,000 after buying an additional 9,008 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of United States Steel by 26.5% during the first quarter. Advisory Services Network LLC now owns 8,822 shares of the basic materials company’s stock worth $172,000 after purchasing an additional 1,850 shares during the last quarter. LSV Asset Management boosted its holdings in shares of United States Steel by 12.3% during the second quarter. LSV Asset Management now owns 861,031 shares of the basic materials company’s stock worth $13,182,000 after purchasing an additional 94,000 shares during the last quarter. Bridgecreek Investment Management LLC acquired a new stake in shares of United States Steel during the first quarter worth $610,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of United States Steel by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 102,817 shares of the basic materials company’s stock worth $1,574,000 after purchasing an additional 4,396 shares during the last quarter. 60.77% 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. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

Further Reading: The limitations of an equal weight rating

Analyst Recommendations for United States Steel (NYSE:X)

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