United States Steel (NYSE:X) Stock Price Up 10.2% – What’s Next?

United States Steel Co. (NYSE:X) shares rose 10.2% during mid-day trading on Tuesday . The stock traded as high as $34.29 and last traded at $34.20. Approximately 5,787,128 shares were traded during trading, an increase of 25% from the average daily volume of 4,619,719 shares. The stock had previously closed at $31.03.

Analyst Ratings Changes

A number of brokerages recently weighed in on X. BMO Capital Markets cut their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Jefferies Financial Group reduced their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their target price 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 target price for the company in a research report on Monday, September 9th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.37.

United States Steel Stock Performance

The firm’s fifty day moving average price is $37.13 and its 200-day moving average price is $37.46. The company has a market cap of $7.55 billion, a P/E ratio of 22.07 and a beta of 1.83. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. United States Steel’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 EPS. As a group, research analysts forecast that United States Steel Co. will post 2.17 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 11th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, November 8th. United States Steel’s dividend payout ratio is 13.16%.

Institutional Investors Weigh In On United States Steel

Hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in United States Steel during the second quarter worth about $26,000. Palouse Capital Management Inc. acquired a new position in shares of United States Steel in the 3rd quarter worth approximately $35,000. Gladius Capital Management LP bought a new stake in United States Steel during the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC acquired a new stake in United States Steel during the 2nd quarter valued at $46,000. Finally, Wilmington Savings Fund Society FSB bought a new position in United States Steel in the 3rd quarter valued at $59,000. 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.