United States Steel (NYSE:X) Stock Price Down 2.6% – Here’s What Happened

United States Steel Co. (NYSE:X) shares dropped 2.6% during mid-day trading on Thursday . The company traded as low as $31.01 and last traded at $31.15. Approximately 2,371,025 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 4,613,725 shares. The stock had previously closed at $31.97.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on X. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a research note on Monday, September 9th. Jefferies Financial Group decreased their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research note on Monday, September 9th. BMO Capital Markets decreased their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.37.

United States Steel Trading Up 0.5 %

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’s 50 day moving average is $37.29 and its two-hundred day moving average is $37.50. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 20.49 and a beta of 1.83.

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, topping 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 business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm earned $1.36 EPS. The business’s quarterly revenue was down 13.0% on a year-over-year basis. Equities analysts anticipate that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, November 8th. United States Steel’s payout ratio is 13.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its stake in United States Steel by 0.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock valued at $1,016,000 after acquiring an additional 241 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of United States Steel by 9.2% during the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 279 shares in the last quarter. Founders Capital Management raised its stake in shares of United States Steel by 9.4% during the third quarter. Founders Capital Management now owns 3,500 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 300 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in United States Steel by 0.7% in the third quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock worth $1,570,000 after purchasing an additional 301 shares during the period. Finally, Arkadios Wealth Advisors grew its position in United States Steel by 1.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company’s stock valued at $658,000 after buying an additional 306 shares in the last quarter. 81.92% of the stock is 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.