United States Steel Corporation (NYSE:X) is now being followed by Cowen, as they initiated the stock at Market Perform on January 09. Analysts at Citigroup, shed their positive views on January 09 by lowering it fromBuy to Neutral. The stock lost favor of Credit Suisse analysts who expressed their lack of confidence in it using a downgrade from Outperform to Neutral on January 08.
United States Steel Corporation (X) hit an intraday high Friday at $21.08. The shares finished at $21.04, after trading as low as $20.51 earlier in the session. It rose 0.24% in recent trade and currently has a stock-market value of $3.72B. Trading activity significantly weakened as the volume at ready counter decreased to 8,007,694 shares versus 8,583,780 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 9,101,688 shares. The stock is now 23.19% above against its bear-market low of $17.08 on December 26, 2018. It has retreated -126.43% since it’s 52-week high of $47.64 reached in March. Now the market price is down -46.33% on the year and up 15.35% YTD.
X’s 50 day simple moving average (SMA 50) price is $22.98 and its 200-day simple moving average (SMA 200) price is $30.64. The company’s stock currently has a total float of 175.53M shares. Its weekly volatility is hovering around 3.77% and felt 4.85% volatility in price over a month. On the upside, the share price will test short term resistance at around $21.24. On a downside, the stock is likely to find some support, which begins at $20.67. The failure to get near-term support could push it to $20.31.
Separately, it has been reported that multiple insider activity took place at United States Steel Corporation (X). EVP & CFO Bradley Kevin acquired 10,000 shares for $116,273 in transaction occurred on 2018/12/13. After making this transaction, the EVP & CFO owns a direct stake of 203,300 shares, worth $2,446,384, as per the last closing price. On 2018/11/20 Bruno James E., Sr. VP – European Solutions at X, dumped 12,000 shares at an average price of $25.75 per share. The selling total is valued at $1,182,048.
EVP & CFO, Bradley Kevin had invested in 10,000 shares for $106,228 through a trade on 2018/11/07. Following this activity, the insider holds 295,300 shares worth $2,235,037 as of recent close. Wall Street’s most bullish United States Steel Corporation (NYSE:X) analysts are predicting the share price to blow past $65 per share during the next 12 months. The current median share price forecast by them is $30, suggesting that the stock could increase 42.59% in that time frame. The average price target of $32.06 calls for a nearly 52.38% increase in the stock price.
When looking at valuations, United States Steel Corporation (X) has a cheap P/E of 6.26x as compared to industry average of 24.14x. Moreover, it trades for 4.44 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.95x price/book and 0.27x price/sales. Compared to others, United States Steel Corporation is in a different league with regards to profitability, having net margins of 5%. To put some perspective around this, the industry’s average net margin is 2.56%. X’s ROE is 19.1%, which is also considerably better than the industry’s ROE of 4.39%. It’s also very liquid in the near term, with a current ratio of 1.6. The stock has a debt/capital of 0.63.
Shares of United States Steel Corporation (X) have dropped -22.6% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, United States Steel Corporation (NYSE:X) has topped consensus earnings estimates in 8 quarters (66%), missed earnings in 3 quarters (25%), whereas at 1 occasion EPS met analyst expectations. X last reported earnings on November 01, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $1.79 per share, -40.73% change on the same period last year. That was better than consensus for $1.74. Revenue for the recent quarter stood at $3.73 billion, up 15% on last year and above the $3.71 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $3.44 billion to $3.87 billion, which should be compared with $3.16 billion generated last year. EPS is seen in a range of $1.3 to $2.43, against the $0.8 reported a year ago.