POSCO (NYSE:PKX – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Several other analysts have also recently commented on PKX. Weiss Ratings cut POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Zacks Research raised POSCO from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, UBS Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, POSCO currently has an average rating of “Hold”.
View Our Latest Research Report on POSCO
POSCO Trading Down 0.1%
POSCO (NYSE:PKX – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.85 by $0.45. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.96 billion. POSCO had a net margin of 1.79% and a return on equity of 2.00%. Sell-side analysts expect that POSCO will post 4.61 earnings per share for the current year.
Institutional Trading of POSCO
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of POSCO in the fourth quarter valued at $25,000. Allworth Financial LP boosted its stake in shares of POSCO by 51.6% during the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 232 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of POSCO by 1,276.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,328 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of POSCO during the fourth quarter worth $85,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of POSCO during the second quarter valued at $95,000.
About POSCO
POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.
The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.
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