United States Steel (NYSE:X) had its price objective lowered by Citigroup from $45.00 to $40.00 in a report released on Tuesday morning. The brokerage currently has a buy rating on the basic materials company’s stock.
A number of other research analysts also recently commented on X. BMO Capital Markets lowered their price target on shares of United States Steel from $36.00 to $33.00 and set a market perform rating for the company in a report on Monday. They noted that the move was a valuation call. ValuEngine raised shares of United States Steel from a strong sell rating to a sell rating in a report on Thursday, November 1st. Zacks Investment Research raised shares of United States Steel from a hold rating to a buy rating and set a $40.00 price target for the company in a report on Tuesday, July 17th. Seaport Global Securities began coverage on shares of United States Steel in a report on Thursday, October 11th. They issued a buy rating and a $35.00 price target for the company. Finally, Credit Suisse Group lowered their price target on shares of United States Steel from $55.00 to $48.00 in a report on Thursday, August 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. United States Steel presently has an average rating of Hold and a consensus target price of $39.72.
X opened at $29.06 on Tuesday. United States Steel has a 52 week low of $24.84 and a 52 week high of $47.64. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.60 and a beta of 2.92. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 8th. United States Steel’s dividend payout ratio (DPR) is currently 10.31%.
United States Steel declared that its Board of Directors has approved a share buyback program on Thursday, November 1st that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
Several large investors have recently modified their holdings of the company. Advisors Preferred LLC increased its holdings in United States Steel by 131.7% during the second quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock valued at $107,000 after buying an additional 1,747 shares during the period. Exane Derivatives boosted its stake in United States Steel by 364,000.0% in the third quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 3,640 shares in the last quarter. Truvestments Capital LLC acquired a new stake in United States Steel in the third quarter valued at approximately $143,000. NuWave Investment Management LLC acquired a new stake in United States Steel in the second quarter valued at approximately $189,000. Finally, Syntal Capital Partners LLC acquired a new stake in United States Steel in the second quarter valued at approximately $208,000. 68.30% of the stock is currently owned by institutional investors and hedge funds.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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