POSCO (NYSE:PKX) Rating Increased to Buy at Wall Street Zen

POSCO (NYSE:PKX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on PKX. Weiss Ratings upgraded shares of POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Zacks Research downgraded shares of POSCO from a “hold” rating to a “strong sell” rating in a report on Thursday, April 9th. Finally, UBS Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, POSCO presently has a consensus rating of “Hold”.

POSCO Stock Up 0.3%

PKX opened at $74.55 on Friday. POSCO has a 52-week low of $42.35 and a 52-week high of $92.40. The company has a market cap of $22.55 billion, a P/E ratio of 44.11 and a beta of 1.58. The firm’s 50-day moving average price is $67.88 and its 200-day moving average price is $61.29.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.12. POSCO had a net margin of 1.19% and a return on equity of 1.35%. On average, research analysts anticipate that POSCO will post 4.56 EPS for the current fiscal year.

Hedge Funds Weigh In On POSCO

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Xponance LLC boosted its position in POSCO by 4.3% in the 4th quarter. Xponance LLC now owns 4,433 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 181 shares in the last quarter. Parallel Advisors LLC boosted its position in POSCO by 4.5% in the 3rd quarter. Parallel Advisors LLC now owns 4,863 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 211 shares in the last quarter. Allworth Financial LP boosted its position in POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 232 shares in the last quarter. PDS Planning Inc boosted its position in POSCO by 4.6% in the 4th quarter. PDS Planning Inc now owns 6,430 shares of the basic materials company’s stock worth $342,000 after purchasing an additional 283 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in POSCO by 5.3% in the 4th quarter. Brooklyn Investment Group now owns 5,636 shares of the basic materials company’s stock worth $306,000 after purchasing an additional 285 shares in the last quarter.

POSCO Company Profile

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.