POSCO (NYSE:PKX) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of POSCO (NYSE:PKX) from an equal weight rating to an overweight rating in a research report report published on Friday, The Fly reports.

Separately, Zacks Investment Research upgraded POSCO from a hold rating to a buy rating and set a $50.00 price target for the company in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $54.50.

NYSE:PKX opened at $47.95 on Friday. The business’s 50-day moving average price is $42.46 and its 200 day moving average price is $39.45. The firm has a market cap of $16.72 billion, a P/E ratio of 20.15, a PEG ratio of 3.38 and a beta of 1.04. POSCO has a 52-week low of $26.27 and a 52-week high of $52.80. The company has a quick ratio of 1.53, a current ratio of 2.07 and a debt-to-equity ratio of 0.28.

POSCO (NYSE:PKX) last released its quarterly earnings results on Thursday, September 10th. The basic materials company reported $0.10 earnings per share for the quarter. POSCO had a return on equity of 2.01% and a net margin of 1.53%. The business had revenue of $10.98 billion during the quarter. Sell-side analysts expect that POSCO will post 2.66 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PKX. Sei Investments Co. acquired a new stake in POSCO during the 2nd quarter worth about $13,172,000. AMG National Trust Bank acquired a new stake in POSCO in the 3rd quarter valued at $1,154,000. Richard P Slaughter Associates Inc boosted its stake in POSCO by 50.5% in the 2nd quarter. Richard P Slaughter Associates Inc now owns 79,193 shares of the basic materials company’s stock valued at $2,933,000 after buying an additional 26,582 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in POSCO in the 2nd quarter valued at $753,000. Finally, Clearbridge Investments LLC boosted its stake in POSCO by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 133,373 shares of the basic materials company’s stock valued at $4,355,000 after buying an additional 16,901 shares in the last quarter. Hedge funds and other institutional investors own 3.18% of the company’s stock.

POSCO Company Profile

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets. It also plans, designs, and constructs industrial plants, civil engineering projects, and commercial and residential buildings; exports and imports steel products and raw materials; and generates electricity; produces gas and refuse derived fuel, as well as provides network and system integration, and logistics services.

See Also: Earnings Per Share (EPS)

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