United States Steel (NYSE:X) Price Target Raised to $43.00 at JPMorgan Chase & Co.

United States Steel (NYSE:X) had its target price upped by JPMorgan Chase & Co. from $40.00 to $43.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other brokerages also recently weighed in on X. Morgan Stanley increased their price target on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Jefferies Financial Group reduced their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel has an average rating of “Moderate Buy” and an average target price of $40.70.

United States Steel Stock Performance

Shares of X opened at $37.08 on Tuesday. The company’s fifty day moving average is $36.74 and its 200-day moving average is $36.63. United States Steel has a 12 month low of $26.92 and a 12 month high of $47.32. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) 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%. Equities analysts expect that United States Steel will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, February 10th. United States Steel’s dividend payout ratio is 13.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after buying an additional 277 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new position in United States Steel during the fourth quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in United States Steel during the fourth quarter worth $30,000. Parkworth Wealth Management Inc. acquired a new position in United States Steel during the fourth quarter worth $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in United States Steel during the fourth quarter worth $32,000. Institutional investors 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.