Noteworthy Rating Filing: Argus Gives U.S. Steel (NYSE:X) Lower Rating. What Is Next?

November 29, 2016 - By Nellie Frank

Noteworthy Rating Filing: Argus Gives U.S. Steel (NYSE:X) Lower Rating. What Is Next?

U.S. Steel (NYSE:X) Downgrade

Argus decreased the shares of U.S. Steel (NYSE:X) from a Buy rating to a Hold rating in a analysts report revealed to investors and clients on 29 November.

United States Steel Corporation (NYSE:X) Ratings Coverage

Out of 19 analysts covering United States Steel Corporation (NYSE:X), 5 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 26% are positive. $28 is the highest target while $4 is the lowest. The $16.33 average target is -47.58% below today’s ($31.15) stock price. United States Steel Corporation has been the topic of 44 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Nomura maintained it with “Neutral” rating and $11 target price in Wednesday, March 9 report. The rating was maintained by Barclays Capital on Thursday, February 4 with “Equal-Weight”. Bank of America upgraded the shares of X in a report on Wednesday, June 15 to “Neutral” rating. The rating was upgraded by KeyBanc Capital Markets to “Sector Weight” on Monday, September 19. Deutsche Bank upgraded United States Steel Corporation (NYSE:X) rating on Wednesday, July 6. Deutsche Bank has “Hold” rating and $15 price target. Jefferies upgraded United States Steel Corporation (NYSE:X) on Friday, August 5 to “Hold” rating. The rating was maintained by Argus Research on Tuesday, November 24 with “Buy”. The firm earned “Hold” rating on Thursday, September 10 by BB&T Capital. The firm has “Buy” rating given on Monday, August 22 by Citigroup. The rating was upgraded by Rosenblatt on Thursday, April 28 to “Buy”.

About 66,077 shares traded hands. United States Steel Corporation (NYSE:X) has risen 73.99% since April 26, 2016 and is uptrending. It has outperformed by 68.73% the S&P500.

Analysts await United States Steel Corporation (NYSE:X) to report earnings on January, 24. They expect $0.07 EPS, up 130.43% or $0.30 from last year’s $-0.23 per share. X’s profit will be $12.54 million for 111.25 P/E if the $0.07 EPS becomes a reality. After $0.40 actual EPS reported by United States Steel Corporation for the previous quarter, Wall Street now forecasts -82.50% negative EPS growth.

United States Steel Corporation is an integrated steel producer. It currently has negative earnings. The Firm is engaged in producing flat-rolled and tubular products with production activities in North America and Europe.

According to Zacks Investment Research, “United States Steel manufactures and sells a variety of steel mill products, coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works, the Fairfield (Alabama) Works near Birmingham, the Mon Valley Works ( which includes the Edgar Thomson steelmaking and Irvin finishing operations) on the Monongahela River near Pittsburgh, and U. S. Steel Kosice in the Slovak Republic.”

X Company Profile

United States Steel Corporation (U. S. Steel), incorporated on May 25, 2001, is an integrated steel producer. The Firm is engaged in producing flat-rolled and tubular products with production activities in North America and Europe. The Firm operates through three divisions: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular). U. S. Steel is also engaged in other business activities consisting primarily of railroad services and real estate operations. U. S. Steel owns, develops and manages various real estate assets, which include approximately 50,000 acres of surface rights primarily in Alabama, Illinois, Maryland, Michigan, Minnesota and Pennsylvania. In addition, the Company holds ownership interests in joint ventures that are developing real estate projects in Alabama, Maryland and Illinois.

More important recent United States Steel Corporation (NYSE:X) news were published by: Schaeffersresearch.com which released: “Most Active Options: Tesla Motors Inc and United States Steel Corporation” on November 28, 2016, also Prnewswire.com published article titled: “United States Steel Corporation Reports Best Quarterly Results Since 2014”, Schaeffersresearch.com published: “Earnings Preview: United States Steel Corporation (X)” on October 31, 2016. More interesting news about United States Steel Corporation (NYSE:X) was released by: Seekingalpha.com and their article: “Is U.S. Steel About To Do Another Secondary?” with publication date: November 25, 2016.

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