United States Steel Co. (X) Bond Prices Fall 1.4%

An issue of United States Steel Co. (NYSE:X) bonds fell 1.4% against their face value during trading on Thursday. The debt issue has a 7.375% coupon and will mature on April 1, 2020. The bonds in the issue are now trading at $107.75 and were trading at $107.50 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

A number of equities research analysts have recently commented on the stock. Longbow Research began coverage on shares of United States Steel in a report on Wednesday, April 12th. They set a “neutral” rating for the company. Vetr downgraded shares of United States Steel from a “strong-buy” rating to a “buy” rating and set a $38.38 target price for the company. in a report on Tuesday, April 11th. Cowen and Company reiterated an “outperform” rating and set a $60.00 price objective on shares of United States Steel in a research note on Monday, April 3rd. Jefferies Group LLC boosted their price objective on shares of United States Steel from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $46.00 price target (up from $39.00) on shares of United States Steel in a report on Wednesday, March 22nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.21.

Shares of United States Steel Co. (NYSE:X) traded down 0.33% during midday trading on Friday, reaching $30.41. 18,196,429 shares of the company’s stock were exchanged. The company’s market capitalization is $5.30 billion. United States Steel Co. has a 1-year low of $12.77 and a 1-year high of $41.83. The firm has a 50-day moving average of $34.01 and a 200-day moving average of $31.16. United States Steel also was the target of unusually large options trading on Thursday. Investors purchased 11,788 call options on the stock. This represents an increase of approximately 104% compared to the typical daily volume of 5,788 call options.

United States Steel (NYSE:X) last announced its quarterly earnings results on Tuesday, January 31st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.26. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.65 billion. United States Steel had a negative return on equity of 11.36% and a negative net margin of 4.29%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share. Equities analysts expect that United States Steel Co. will post $2.93 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in X. California State Teachers Retirement System raised its position in shares of United States Steel by 14.2% in the third quarter. California State Teachers Retirement System now owns 337,929 shares of the basic materials company’s stock valued at $6,373,000 after buying an additional 41,900 shares during the last quarter. Swiss National Bank raised its position in shares of United States Steel by 6.6% in the third quarter. Swiss National Bank now owns 268,100 shares of the basic materials company’s stock valued at $5,056,000 after buying an additional 16,600 shares during the last quarter. Teachers Advisors LLC raised its position in shares of United States Steel by 93.0% in the third quarter. Teachers Advisors LLC now owns 928,391 shares of the basic materials company’s stock valued at $17,509,000 after buying an additional 447,411 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of United States Steel by 108.5% in the third quarter. TIAA CREF Investment Management LLC now owns 1,041,606 shares of the basic materials company’s stock valued at $19,645,000 after buying an additional 542,120 shares during the last quarter. Finally, Highline Capital Management L.P. purchased a new position in shares of United States Steel during the third quarter valued at about $4,215,000. Institutional investors and hedge funds own 77.18% of the company’s stock.

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United States Steel Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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