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

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

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets lowered their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Jefferies Financial Group cut their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Bank of America initiated coverage on United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.07.

United States Steel Stock Up 0.7 %

X stock opened at $36.05 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. United States Steel has a 1-year low of $26.92 and a 1-year high of $48.85. The firm has a fifty day moving average price of $35.61 and a two-hundred day moving average price of $37.16. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 23.72 and a beta of 1.88.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 EPS. Research analysts predict that United States Steel will post 1.99 EPS for the current year.

United States Steel Dividend Announcement

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

Institutional Investors Weigh In On United States Steel

Institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in United States Steel during the fourth quarter worth approximately $30,000. Palouse Capital Management Inc. acquired a new stake in United States Steel during the third quarter worth approximately $35,000. Gladius Capital Management LP acquired a new stake in United States Steel during the third quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in United States Steel by 50.0% during the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 442 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in United States Steel during the third quarter worth approximately $59,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.