JPMorgan Chase & Co. Reiterates Neutral Rating for United States Steel (X)
United States Steel (NYSE:X)‘s stock had its “neutral” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday, ARN reports. They currently have a $24.00 target price on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 7.73% from the stock’s previous close.
United States Steel (NYSE:X) traded down 0.04% on Thursday, hitting $26.01. 5,183,340 shares of the company’s stock traded hands. United States Steel has a 1-year low of $16.12 and a 1-year high of $31.15. The stock’s 50-day moving average is $26.75 and its 200-day moving average is $26.46. The company’s market cap is $3.763 billion. United States Steel also saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 33,226,137 shares, a decline of 9.0% from the March 31st total of 36,498,490 shares. Approximately 23.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,683,332 shares, the short-interest ratio is presently 5.8 days.
United States Steel (NYSE:X) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.05. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts predict that United States Steel will post $1.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Wednesday, May 14th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Monday, May 12th.
A number of other firms have also recently commented on X. Analysts at Nomura reiterated a “buy” rating on shares of United States Steel in a research note on Thursday. They now have a $32.00 price target on the stock. Separately, analysts at Zacks downgraded shares of United States Steel from an “outperform” rating to a “neutral” rating in a research note on Thursday, March 27th. They now have a $29.00 price target on the stock. Finally, analysts at Credit Suisse downgraded shares of United States Steel from a “neutral” rating to an “underperform” rating in a research note on Friday, March 14th. They now have a $19.00 price target on the stock. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.19.
United States Steel Corporation (NYSE:X) is an integrated steel producer of flat-rolled and tubular products with production ope.
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