United States Steel (X) Coverage Initiated at Seaport Global Securities

Stock analysts at Seaport Global Securities began coverage on shares of United States Steel (NYSE:X) in a research report issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $35.00 price target on the basic materials company’s stock. Seaport Global Securities’ price objective points to a potential upside of 22.29% from the stock’s current price.

Several other analysts have also recently weighed in on X. Zacks Investment Research raised shares of United States Steel from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, July 17th. ValuEngine cut shares of United States Steel from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Credit Suisse Group cut their price target on shares of United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. Deutsche Bank cut shares of United States Steel from a “buy” rating to a “hold” rating and cut their price target for the company from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Finally, TheStreet raised shares of United States Steel from a “c” rating to a “b” rating in a research report on Thursday, August 2nd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. United States Steel has a consensus rating of “Hold” and an average price target of $40.72.

Shares of United States Steel stock opened at $28.62 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. United States Steel has a twelve month low of $24.82 and a twelve month high of $47.64. The firm has a market capitalization of $5.40 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.66 and a beta of 3.11.

United States Steel (NYSE:X) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.33. United States Steel had a net margin of 4.09% and a return on equity of 18.70%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. United States Steel’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts predict that United States Steel will post 5.81 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC raised its holdings in shares of 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 purchasing an additional 1,747 shares during the period. NuWave Investment Management LLC acquired a new position in shares of United States Steel during the second quarter valued at about $189,000. Syntal Capital Partners LLC acquired a new position in shares of United States Steel during the second quarter valued at about $208,000. Hartford Investment Management Co. acquired a new position in shares of United States Steel during the second quarter valued at about $212,000. Finally, Zacks Investment Management acquired a new position in shares of United States Steel during the second quarter valued at about $218,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

United States Steel Company Profile

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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Analyst Recommendations for United States Steel (NYSE:X)

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