United States Steel’s (X) “Market Perform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of United States Steel (NYSE:X) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has a $45.00 price objective on the basic materials company’s stock.

X has been the topic of several other research reports. Bank of America initiated coverage on shares of 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. JPMorgan Chase & Co. upped their price target on United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley lifted their price objective on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Finally, Jefferies Financial Group cut their target price 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Price Performance

Shares of NYSE:X opened at $42.42 on Monday. The company has a 50 day moving average of $38.87 and a 200 day moving average of $37.34. The stock has a market cap of $9.60 billion, a P/E ratio of 28.47, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel has a 12 month low of $26.92 and a 12 month high of $44.87.

United States Steel (NYSE:X) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, sell-side analysts forecast that United States Steel will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. United States Steel’s payout ratio is currently 13.42%.

Hedge Funds Weigh In On United States Steel

Several institutional investors and hedge funds have recently modified their holdings of X. Empirical Asset Management LLC purchased a new position in United States Steel in the fourth quarter valued at $525,000. ARS Investment Partners LLC purchased a new stake in shares of United States Steel during the 4th quarter worth $15,510,000. Rockefeller Capital Management L.P. grew its stake in shares of United States Steel by 646.0% during the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after purchasing an additional 438,771 shares in the last quarter. Geode Capital Management LLC increased its holdings in United States Steel by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after buying an additional 37,528 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in United States Steel during the 4th quarter worth about $554,000. Hedge funds and other 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.