United States Steel (NYSE:X) Given New $43.00 Price Target at JPMorgan Chase & Co.

United States Steel (NYSE:X) had its price target decreased by JPMorgan Chase & Co. from $47.00 to $43.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

Several other equities analysts have also commented on X. BMO Capital Markets decreased their price objective on shares of United States Steel from $55.00 to $45.00 and set a market perform rating on the stock in a report on Tuesday, March 19th. Morgan Stanley cut United States Steel from an overweight rating to an equal weight rating and raised their target price for the company from $40.00 to $51.00 in a report on Thursday, February 15th. Wolfe Research raised shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. Finally, StockNews.com assumed coverage on shares of United States Steel in a report on Monday, April 29th. They set a hold rating on the stock. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $36.89.

United States Steel Trading Down 1.6 %

United States Steel stock traded down $0.58 during midday trading on Friday, hitting $36.47. 2,191,518 shares of the stock were exchanged, compared to its average volume of 3,311,864. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $41.48 and its 200 day simple moving average is $41.46. United States Steel has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 10.70 and a beta of 2.06.

United States Steel (NYSE:X) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a net margin of 4.89% and a return on equity of 10.68%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm earned $0.87 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. On average, equities analysts anticipate that United States Steel will post 2.99 EPS for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is 5.87%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in United States Steel by 308.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock valued at $16,127,000 after acquiring an additional 250,311 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of United States Steel by 16,065.0% during the 4th quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock worth $1,572,000 after buying an additional 32,130 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of United States Steel by 4,057.9% in the fourth quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock valued at $36,368,000 after buying an additional 729,574 shares in the last quarter. SG Americas Securities LLC grew its holdings in United States Steel by 1,132.8% during the fourth quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock worth $5,630,000 after acquiring an additional 106,329 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in United States Steel in the fourth quarter worth $3,045,000. Institutional investors and hedge funds 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.