United States Steel Short Interest Down 13.6% in July (X)
United States Steel (NYSE:X) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 33,792,180 shares, a drop of 13.6% from the July 15th total of 39,101,734 shares, American Banking & Market News reports. Based on an average daily volume of 8,537,258 shares, the short-interest ratio is currently 4.0 days. Currently, 23.5% of the shares of the stock are sold short.
X has been the subject of a number of recent research reports. Analysts at Argus raised their price target on shares of United States Steel from $31.00 to $41.00 in a research note on Tuesday, August 12th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of United States Steel in a research note on Wednesday, August 6th. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $87.86.
United States Steel (NYSE:X) opened at 36.38 on Monday. United States Steel has a 1-year low of $17.73 and a 1-year high of $37.03. The stock’s 50-day moving average is $29.95 and its 200-day moving average is $26.62. The company’s market cap is $5.280 billion.
United States Steel (NYSE:X) last posted its quarterly earnings results 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 $1.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, August 11th.
United States Steel Corporation (NYSE:X) is an integrated steel producer of flat-rolled and tubular products with production ope.
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