United States Steel's (X) Buy Rating Reaffirmed at Jefferies Group LLC

Operational Issues Reemerge At U.S. Steel

US Steel has $180 million loss in first quarter

The analysts offering 12 month price targets for United States Steel Corporation have a median target of $40, with a high estimate of $60 and a low estimate of $10. Jefferies Group LLC restated a buy rating and issued a $45.00 price target on shares of United States Steel in a research note on Wednesday, February 1st. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company now has a consensus rating of Hold and an average target price of $34.35. (X) reported a first quarter 2017 net loss of $180 million, or $1.03 per diluted share.

United States Steel (NYSE:X) opened at 41.57 on Thursday. What has changed between January 31st when United States Steel reported 4Q16 results and today when it reported 1Q17 earnings?

United States Steel Corporation is an integrated steel producer. The firm's stock has a market capitalization of $3.94 bln.

United States Steel (NYSE:X) last posted its quarterly earnings results on Tuesday, April 25th. Analysts are forecasting earnings of $0.94 on a per share basis this quarter. The firm earned $2.73 billion during the quarter, compared to analyst estimates of $2.91 billion. Since then President Trump has been spending more time with industry executives especially United States Steel's CEO Mario Longhi to understand the import pressures facing the steel industry. The firm's quarterly revenue was up 16.4% compared to the same quarter previous year. On average, equities analysts expect that United States Steel will post $2.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, May 8th. United States Steel's dividend payout ratio (DPR) is now -6.83%. Vetr upgraded United States Steel from a "buy" rating to a "strong-buy" rating and set a $38.76 price objective on the stock in a research note on Monday, March 27th. It was the second-most actively traded on the exchange, with almost 50 million shares changing hands by 11:00 a.m. ET. Municipal Employees Retirement System of MI boosted its position in United States Steel by 1.4% in the third quarter. The stock was sold at an average price of $33.48, for a total transaction of $547,498.44. Mitsubishi UFJ Trust & Banking Corp now owns 18,566 shares of the basic materials company's stock worth $350,000 after buying an additional 275 shares during the period. The disclosure for this sale can be found here. The stock, after opening at $22.48, hit $23.24 through the close by scoring 2.02%.

A number of institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Louisiana State Employees Retirement System raised its position in shares of United States Steel by 12.1% in the third quarter. Barclays PLC raised their price target on United States Steel from $29.00 to $35.00 and gave the stock an equal weight rating in a research note on Monday, February 6th. First Trust Advisors LP acquired a new position in shares of United States Steel during the third quarter valued at approximately $476,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in United States Steel by 1.5% in the third quarter. Finally, Flinton Capital Management LLC bought a new position in United States Steel during the fourth quarter valued at about $250,000.

The company's stock slumped to a three-month low of $22.88 and was the biggest percentage loser on the New York Stock Exchange.

The company said the results were hurt by "operating challenges" at its flat-rolled facilities that prevented it from benefiting fully from improved market conditions.

Ultimas noticias