JPMorgan Chase & Co. Cuts United States Steel (NYSE:X) Price Target to $40.00

United States Steel (NYSE:X) had its target price reduced by JPMorgan Chase & Co. from $44.00 to $40.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

X has been the topic of a number of other reports. Bank of America initiated coverage on United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. Jefferies Financial Group decreased their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United States Steel currently has a consensus rating of “Moderate Buy” and an average target price of $41.07.

United States Steel Stock Performance

Shares of NYSE X opened at $36.05 on Friday. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 23.72 and a beta of 1.88. The stock’s 50-day moving average is $35.61 and its 200 day moving average is $37.19. 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 has a 1-year low of $26.92 and a 1-year high of $48.85.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $1.36 EPS. The business’s quarterly revenue was down 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that United States Steel will post 1.99 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Institutional Trading of United States Steel

Large investors have recently added to or reduced their stakes in the stock. Choreo LLC purchased a new stake in United States Steel in the second quarter worth about $213,000. Federated Hermes Inc. raised its position in shares of United States Steel by 16.0% in the 2nd quarter. Federated Hermes Inc. now owns 24,303 shares of the basic materials company’s stock worth $919,000 after acquiring an additional 3,361 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of United States Steel by 19.5% in the 2nd quarter. Moors & Cabot Inc. now owns 7,625 shares of the basic materials company’s stock valued at $288,000 after purchasing an additional 1,245 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in United States Steel by 12.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,936 shares of the basic materials company’s stock worth $527,000 after purchasing an additional 1,502 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in United States Steel by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock worth $1,016,000 after purchasing an additional 241 shares in the last quarter. Institutional investors 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.