Stock analysts at BMO Capital Markets started coverage on shares of United States Steel Corp. (NYSE:X) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating and a $19.00 price target on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 7.36% from the company’s current price.
The analysts wrote, “BMO Research is initiating coverage of U.S. Steel with a Market Perform rating and US$19 target price. U.S. Steel appears attractive based on EV/EBITDA, but after adjusting for legacy liabilities, valuation is less compelling. X’s balance sheet is by far the most stretched of the group at 5x net debt to EBITDA for FY2013. There is also potential for dilution from an out-of-the-money convertible bond due in 2014. The company is also leveraged to construction (residential and non-residential) and automotive markets that have largely already rebounded.”
A number of other analysts have also recently weighed in on X. Analysts at Wellington Shields initiated coverage on shares of United States Steel Corp. (NYSE:X) in a research note to investors on Wednesday, September 4th. They set a “hold” rating on the stock. Separately, analysts at Zacks upgraded shares of United States Steel Corp. (NYSE:X) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th. They now have a $18.00 price target on the stock. Finally, analysts at TheStreet reiterated a “sell” rating on shares of United States Steel Corp. (NYSE:X) in a research note to investors on Monday, July 15th.
Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.83.
United States Steel Corp. (NYSE:X) opened at 20.51 on Tuesday. United States Steel Corp. has a one year low of $15.80 and a one year high of $26.29. The stock has a 50-day moving average of $18.56 and a 200-day moving average of $18.3. The company’s market cap is $2.967 billion.
United States Steel Corp. (NYSE:X) last announced its earnings results on Tuesday, July 30th. The company reported ($0.54) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.77) by $0.23. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, analysts predict that United States Steel Corp. will post $-1.33 earnings per share for the current fiscal year.
United States Steel Corporation (NYSE:X) produces and sells steel mill products, including flat-rolled and tubular products, in North America and Europe.
