United States Steel Given New $41.00 Price Target at Argus (X)
Analysts at Argus increased their price objective on shares of United States Steel (NYSE:X) from $31.00 to $41.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the stock. Argus’ target price would suggest a potential upside of 15.36% from the company’s current price.
Shares of United States Steel (NYSE:X) opened at 35.54 on Tuesday. United States Steel has a 52-week low of $17.73 and a 52-week high of $35.89. The stock’s 50-day moving average is $28.75 and its 200-day moving average is $26.3. The company’s market cap is $5.158 billion. United States Steel also was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 33,792,180 shares, a decrease of 13.6% from the July 15th total of 39,101,734 shares. Based on an average daily trading volume, of 8,537,258 shares, the days-to-cover ratio is presently 4.0 days. Approximately 23.5% of the shares of the stock are sold short.
United States Steel (NYSE:X) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.35) earnings per share. United States Steel’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that United States Steel will post $1.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders 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 0.56%. The ex-dividend date of this dividend is Monday, August 11th.
A number of other firms have also recently commented on X. Analysts at Goldman Sachs reiterated a “buy” rating on shares of United States Steel in a research note on Wednesday, August 6th. Separately, analysts at S&P Equity Research raised their price target on shares of United States Steel from $11.68 to $783.00 in a research note on Monday, August 4th. They now have a “hold” rating on the stock. Finally, analysts at KeyCorp upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. They now have a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $87.86.
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.