BMO Capital Markets Issues Pessimistic Forecast for United States Steel (NYSE:X) Stock Price

United States Steel (NYSE:X) had its price target reduced by research analysts at BMO Capital Markets from $43.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 32.71% from the stock’s previous close.

Several other brokerages also recently issued reports on X. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 6th. Jefferies Financial Group lowered their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.37.

United States Steel Stock Performance

NYSE X opened at $30.14 on Friday. The stock has a market cap of $6.79 billion, a P/E ratio of 19.83 and a beta of 1.83. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. United States Steel has a twelve month low of $26.92 and a twelve month high of $48.95. The company’s 50-day simple moving average is $37.88 and its 200 day simple moving average is $37.73.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations 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 was down 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, research analysts forecast that United States Steel will post 2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On United States Steel

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in United States Steel by 4,305.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after purchasing an additional 3,551,870 shares during the period. Castle Hook Partners LP acquired a new stake in shares of United States Steel in the third quarter valued at approximately $91,712,000. KGH Ltd boosted its stake in shares of 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 worth $160,839,000 after acquiring an additional 1,724,670 shares during the period. Holocene Advisors LP acquired a new position in shares of United States Steel during the 3rd quarter worth approximately $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 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.