United States Steel Corporation (X) Cut to “Sell” at Citigroup Inc.

Citigroup Inc. downgraded shares of United States Steel Corporation (NYSE:X) from a neutral rating to a sell rating in a research report report published on Friday, Marketbeat Ratings reports. They currently have $20.00 price objective on the basic materials company’s stock, down from their prior price objective of $26.00.

A number of other analysts also recently issued reports on X. Morgan Stanley reissued a buy rating and issued a $34.00 target price (down from $48.00) on shares of United States Steel Corporation in a research report on Monday, May 1st. Jefferies Group LLC reissued a buy rating and issued a $50.00 target price on shares of United States Steel Corporation in a research report on Wednesday, April 26th. Vetr downgraded United States Steel Corporation from a strong-buy rating to a buy rating and set a $38.38 target price for the company. in a research report on Tuesday, April 11th. Standpoint Research raised United States Steel Corporation from a hold rating to a buy rating and set a $28.00 target price for the company in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, Longbow Research raised United States Steel Corporation from a neutral rating to a buy rating in a research report on Monday, June 19th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. United States Steel Corporation has a consensus rating of Hold and an average price target of $27.31.

United States Steel Corporation (X) opened at 22.98 on Friday. The company’s 50 day moving average price is $22.49 and its 200-day moving average price is $28.52. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 145.44 and a beta of 2.88. United States Steel Corporation has a 12-month low of $15.72 and a 12-month high of $41.83.

United States Steel Corporation (NYSE:X) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.66. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.98 billion. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. United States Steel Corporation’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the business posted ($0.32) earnings per share. On average, equities analysts anticipate that United States Steel Corporation will post $1.46 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was first reported by [[site]] and is the sole property of of [[site]]. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at [[permalink]].

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, August 7th. United States Steel Corporation’s dividend payout ratio (DPR) is currently 125.00%.

In related news, Director Stephen J. Girsky bought 2,500 shares of the stock in a transaction dated Tuesday, May 16th. The stock was bought at an average price of $19.94 per share, with a total value of $49,850.00. Following the purchase, the director now owns 21,872 shares in the company, valued at approximately $436,127.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Sutherland bought 10,000 shares of the stock in a transaction dated Friday, May 12th. The stock was bought at an average cost of $19.96 per share, with a total value of $199,600.00. Following the purchase, the director now owns 98,919 shares in the company, valued at approximately $1,974,423.24. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 14,000 shares of company stock valued at $278,415. Corporate insiders own 1.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its position in shares of United States Steel Corporation by 1.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 30,036 shares of the basic materials company’s stock worth $1,016,000 after buying an additional 315 shares in the last quarter. World Asset Management Inc increased its position in shares of United States Steel Corporation by 2.6% in the first quarter. World Asset Management Inc now owns 13,485 shares of the basic materials company’s stock worth $456,000 after buying an additional 342 shares in the last quarter. Texas Permanent School Fund increased its position in shares of United States Steel Corporation by 0.3% in the first quarter. Texas Permanent School Fund now owns 126,189 shares of the basic materials company’s stock worth $4,266,000 after buying an additional 407 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of United States Steel Corporation by 3.6% in the second quarter. Capstone Asset Management Co. now owns 15,371 shares of the basic materials company’s stock worth $340,000 after buying an additional 540 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of United States Steel Corporation by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 32,591 shares of the basic materials company’s stock worth $722,000 after buying an additional 606 shares in the last quarter. 67.18% of the stock is owned by institutional investors.

United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).