United States Steel Corporation (X) Earns “Equal Weight” Rating from Barclays PLC

Barclays PLC restated their equal weight rating on shares of United States Steel Corporation (NYSE:X) in a report released on Wednesday. The brokerage currently has a $25.00 price objective on the basic materials company’s stock, up from their previous price objective of $24.00.

Other research analysts also recently issued research reports about the company. Citigroup Inc. downgraded United States Steel Corporation from a neutral rating to a sell rating and lowered their target price for the company from $26.00 to $20.00 in a report on Friday, July 28th. Morgan Stanley reissued a buy rating and issued a $34.00 target price (down previously from $48.00) on shares of United States Steel Corporation in a report on Monday, May 1st. Zacks Investment Research downgraded United States Steel Corporation from a hold rating to a strong sell rating in a report on Tuesday, May 23rd. Axiom Securities reissued a sell rating on shares of United States Steel Corporation in a report on Thursday, July 13th. Finally, Jefferies Group LLC lowered their target price on United States Steel Corporation from $50.00 to $29.00 and set a buy rating on the stock in a report on Wednesday, May 3rd. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $27.36.

Shares of United States Steel Corporation (NYSE X) opened at 23.16 on Wednesday. United States Steel Corporation has a 52-week low of $15.72 and a 52-week high of $41.83. The company has a market cap of $4.05 billion, a PE ratio of 146.58 and a beta of 2.88. The company’s 50-day moving average is $23.18 and its 200 day moving average is $27.83.

United States Steel Corporation (NYSE:X) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.66. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the company posted ($0.32) earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. On average, analysts anticipate that United States Steel Corporation will post $1.75 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, August 7th. United States Steel Corporation’s dividend payout ratio is currently 125.00%.

In other news, Director Paul Anthony Mascarenas purchased 1,500 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average price of $19.31 per share, for a total transaction of $28,965.00. Following the acquisition, the director now directly owns 12,377 shares of the company’s stock, valued at approximately $238,999.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Girsky purchased 2,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average price of $19.94 per share, with a total value of $49,850.00. Following the acquisition, the director now directly owns 21,872 shares in the company, valued at $436,127.68. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL boosted its position in United States Steel Corporation by 160.8% in the first quarter. Tudor Investment Corp ET AL now owns 30,407 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 80,407 shares in the last quarter. Scopus Asset Management L.P. boosted its position in United States Steel Corporation by 203.3% in the first quarter. Scopus Asset Management L.P. now owns 206,600 shares of the basic materials company’s stock valued at $6,985,000 after buying an additional 406,600 shares in the last quarter. BlackRock Inc. boosted its position in United States Steel Corporation by 12,021.7% in the first quarter. BlackRock Inc. now owns 14,279,755 shares of the basic materials company’s stock valued at $482,799,000 after buying an additional 14,161,952 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in United States Steel Corporation by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock valued at $112,000 after buying an additional 3,155 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in United States Steel Corporation by 14.0% in the first quarter. Private Advisor Group LLC now owns 18,040 shares of the basic materials company’s stock valued at $589,000 after buying an additional 2,221 shares in the last quarter. Institutional investors and hedge funds own 69.08% of the company’s stock.

About United States Steel Corporation

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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