United States Steel (NYSE:X) Price Target Cut to $40.00 by Analysts at Jefferies Financial Group

United States Steel (NYSE:X) had its target price trimmed by Jefferies Financial Group from $45.00 to $40.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, BMO Capital Markets lowered their target price on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Trading Up 8.4 %

Shares of NYSE:X opened at $33.04 on Monday. United States Steel has a 12-month low of $26.92 and a 12-month high of $48.85. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7.44 billion, a P/E ratio of 21.74 and a beta of 1.88. The firm has a fifty day moving average of $36.62 and a two-hundred day moving average of $37.34.

United States Steel (NYSE:X) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, equities analysts expect that United States Steel will post 2.17 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.61%. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Hedge Funds Weigh In On United States Steel

Several large investors have recently made changes to their positions in X. Massachusetts Financial Services Co. MA increased its position in United States Steel by 4,305.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after buying an additional 3,551,870 shares during the period. Castle Hook Partners LP bought a new position in United States Steel during the third quarter worth $91,712,000. KGH Ltd raised its stake in United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after purchasing an additional 1,724,670 shares during the last quarter. Holocene Advisors LP acquired a new position in United States Steel during the 3rd quarter valued at $51,620,000. Finally, Forest Avenue Capital Management LP bought a new stake in United States Steel in the 2nd quarter valued at $22,770,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

About United States Steel

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.