JPMorgan Chase & Co. Has Lowered Expectations for United States Steel (NYSE:X) Stock Price

United States Steel (NYSE:X) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $44.00 to $40.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 10.95% from the company’s current price.

Several other research firms also recently commented on X. BMO Capital Markets reduced their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group cut their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.07.

United States Steel Price Performance

Shares of NYSE X opened at $36.05 on Friday. The company has a 50 day simple moving average of $35.61 and a two-hundred day simple moving average of $37.18. United States Steel has a fifty-two week low of $26.92 and a fifty-two week high of $48.85. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 23.72 and a beta of 1.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The company’s revenue was down 13.0% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. Analysts expect that United States Steel will post 1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its stake in shares of United States Steel by 646.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after purchasing an additional 438,771 shares in the last quarter. Geode Capital Management LLC increased its position in shares of United States Steel by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after buying an additional 37,528 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of United States Steel by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock worth $91,883,000 after buying an additional 28,293 shares during the period. Water Island Capital LLC grew its stake in United States Steel by 5.3% in the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock valued at $34,250,000 after acquiring an additional 45,567 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in United States Steel during the third quarter valued at $608,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.