United States Steel Given “Sell” Rating at Citigroup Inc. (X)
United States Steel (NYSE:X)‘s stock had its “sell” rating reaffirmed by investment analysts at Citigroup Inc. in a note issued to investors on Thursday. They currently have a $24.00 price objective on the stock, up from their previous price objective of $21.00. Citigroup Inc.’s price target points to a potential downside of 28.34% from the stock’s previous close.
United States Steel (NYSE:X) traded up 1.39% during mid-day trading on Thursday, hitting $33.49. 13,250,276 shares of the company’s stock traded hands. United States Steel has a one year low of $16.86 and a one year high of $33.85. The stock has a 50-day moving average of $26.7 and a 200-day moving average of $25.9. The company’s market cap is $4.852 billion. United States Steel also was the target of unusually large options trading on Wednesday. Stock investors acquired 67,224 call options on the company. This represents an increase of 369% compared to the average daily volume of 14,345 call options.
United States Steel (NYSE:X) last released its earnings data on Tuesday, July 29th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.44. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that United States Steel will post $1.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Wednesday, August 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Monday, August 11th.
X has been the subject of a number of other recent research reports. Analysts at Nomura raised their price target on shares of United States Steel from $32.00 to $40.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of United States Steel from $31.00 to $35.00 in a research note on Thursday. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of United States Steel in a research note on Monday, July 14th. They now have a $31.00 price target on the stock, up previously from $27.00. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.85.
United States Steel Corporation (NYSE:X) is an integrated steel producer of flat-rolled and tubular products with production ope.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.