November 29, 2016 - By Ruchi Gupta
In a analysts note shared with investors on Tuesday morning, Argus lowered shares of United States Steel Corporation (NYSE:X) to a “Hold” rating from a “Buy” rating.
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 -47.59% below today’s ($31.16) stock price. United States Steel Corporation has been the topic of 44 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock of United States Steel Corporation (NYSE:X) earned “Neutral” rating by Bank of America on Thursday, November 3. The stock has “Buy” rating given by Rosenblatt on Thursday, April 28. The stock has “Overweight” rating given by JP Morgan on Thursday, July 30. On Monday, October 5 the stock rating was maintained by Barclays Capital with “Equal-Weight”. Deutsche Bank upgraded United States Steel Corporation (NYSE:X) rating on Wednesday, July 6. Deutsche Bank has “Hold” rating and $15 price target. Rosenblatt maintained the shares of X in a report on Monday, February 22 with “Neutral” rating. Jefferies maintained United States Steel Corporation (NYSE:X) on Wednesday, September 16 with “Hold” rating. As per Friday, April 8, the company rating was downgraded by UBS. The stock has “Hold” rating given by Deutsche Bank on Wednesday, November 4. Credit Suisse maintained the shares of X in a report on Wednesday, June 8 with “Outperform” rating.
The stock decreased 3.14% or $1.01 on November 29, hitting $31.16. About 24.66M shares traded hands or 10.09% up from the average. 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 $11.68M for 111.29 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.”
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 notable recent United States Steel Corporation (NYSE:X) news were published by: Investorplace.com which released: “This United States Steel Corporation (X) Stock Trade Looks Like a Steal” on November 29, 2016, also Schaeffersresearch.com with their article: “Most Active Options: Tesla Motors Inc and United States Steel Corporation” published on November 28, 2016, Prnewswire.com published: “United States Steel Corporation Reports Best Quarterly Results Since 2014” on November 01, 2016. More interesting news about United States Steel Corporation (NYSE:X) were released by: Schaeffersresearch.com and their article: “Earnings Preview: United States Steel Corporation (X)” published on October 31, 2016 as well as Investorplace.com‘s news article titled: “Fight Deflation With United States Steel Corporation (X), AK Steel Holding …” with publication date: November 14, 2016.
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By Ruchi Gupta