United States Steel (NYSE:X) had its price objective lowered by Nomura from $55.00 to $37.00 in a report released on Thursday. Nomura currently has a buy rating on the stock.
“US Steel has significantly exceeded earnings guidance in each of the past four quarters and consequently has established a track record of conservatism. We expect the market to be skeptical of the guidance given the continued decline in sheet prices and expectations for scrap to fall by $30-40/ton in Feb. We believe it is important for investors to understand that iron ore accounts for only ~13% of US Steel’s Flat Rolled cost base and X should see significant benefits in 2015 from lower natural gas, coke, and scrap prices. In addition, we project that US Steel should be able to generate an incremental $200mn of realized project Carnegie savings relative to the 4Q-14 run rate; note X achieved $575mn of benefits in 2014. US Steel’s flat rolled ASPs have been very stable over the past several years owing to continued improvements in product mix and success in maintaining price levels for OEM contracts, as was very evident in 4Q-14.,” the firm’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company set a $40.00 price target on shares of United States Steel and gave the company a buy rating in a research note on Wednesday, January 28th. Analysts at Citigroup Inc. set a $22.00 price target on shares of United States Steel and gave the company a sell rating in a research note on Wednesday, January 28th. Analysts at Goldman Sachs downgraded shares of United States Steel from a buy rating to a neutral rating and lowered their price target for the stock from $52.00 to $23.00 in a research note on Friday, January 23rd. Finally, analysts at Barclays initiated coverage on shares of United States Steel in a research note on Thursday, January 15th. They set an equal weight rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $38.00.
United States Steel (NYSE:X) traded down 2.29% on Thursday, hitting $23.88. 5,537,481 shares of the company’s stock traded hands. United States Steel has a 1-year low of $20.13 and a 1-year high of $46.55. The stock has a 50-day moving average of $24.83 and a 200-day moving average of $33.08. The company has a market cap of $3.478 billion and a price-to-earnings ratio of 35.42.
United States Steel (NYSE:X) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.96. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the company posted $0.27 earnings per share. United States Steel’s revenue was down 4.6% compared to the same quarter last year. On average, analysts predict that United States Steel will post $2.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 11th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Monday, February 9th.
United States Steel Corporation (NYSE:X) is an integrated steel producer of flat-rolled and tubular products with production ope. S. Steel is also engaged in other business activities consisting primarily of transportation services (railroad and barge operations) and real estate operations.
Source: Dakota Financial News
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
![Steel Insights](/assets/images/news/coal-insights.jpg)
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
![Steel Insights](/assets/images/news/ICMW_Jan09.gif)
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
![Steel Insights](/assets/images/news/ISMW.gif)
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
![Steel Insights](/assets/images/news/SteelInsights.jpg)
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.