POSCO (NYSE:PKX) Stock Crosses Above 200-Day Moving Average – What’s Next?

POSCO (NYSE:PKX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $62.97 and traded as high as $64.74. POSCO shares last traded at $62.6050, with a volume of 256,251 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on PKX shares. Zacks Research upgraded shares of POSCO from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Wall Street Zen raised shares of POSCO from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. UBS Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, POSCO presently has an average rating of “Moderate Buy”.

POSCO Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.90. The company’s fifty day simple moving average is $71.08 and its two-hundred day simple moving average is $62.97. The stock has a market capitalization of $18.94 billion, a PE ratio of 37.04 and a beta of 1.52.

POSCO (NYSE:PKX) last announced its quarterly earnings results 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. The company had revenue of $11.88 billion for the quarter, compared to the consensus estimate of $11.75 billion. POSCO had a net margin of 1.19% and a return on equity of 1.34%. As a group, sell-side analysts predict that POSCO will post 4.56 EPS for the current year.

Institutional Investors Weigh In On POSCO

A number of institutional investors and hedge funds have recently bought and sold shares of PKX. Xponance LLC lifted its position in shares of POSCO by 4.3% in the fourth quarter. Xponance LLC now owns 4,433 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 181 shares in the last quarter. Parallel Advisors LLC increased its position in POSCO by 4.5% during 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 raised its stake in POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 232 shares during the last quarter. PDS Planning Inc raised its stake in POSCO by 4.6% in the 4th quarter. PDS Planning Inc now owns 6,430 shares of the basic materials company’s stock valued at $342,000 after purchasing an additional 283 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in POSCO by 5.3% in the 4th quarter. Brooklyn Investment Group now owns 5,636 shares of the basic materials company’s stock valued at $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.