Stock On Watch: What’s in United States Steel Corporation After Today’s Big Increase?

Stock On Watch: What's in United States Steel Corporation After Today's Big Increase?

The stock of United States Steel Corporation (NYSE:X) is a huge mover today! About 5.12 million shares traded hands. United States Steel Corporation (NYSE:X) has risen 42.67% since March 3, 2016 and is uptrending. It has outperformed by 34.33% the S&P500.
The move comes after 5 months positive chart setup for the $3.04 billion company. It was reported on Oct, 6 by Barchart.com. We have $28.27 PT which if reached, will make NYSE:X worth $1.67 billion more.

Analysts await United States Steel Corporation (NYSE:X) to report earnings on November, 1. They expect $0.94 earnings per share, up 234.29% or $1.64 from last year’s $-0.7 per share. X’s profit will be $156.67M for 4.85 P/E if the $0.94 EPS becomes a reality. After $-0.31 actual earnings per share reported by United States Steel Corporation for the previous quarter, Wall Street now forecasts -403.23% EPS growth.

United States Steel Corporation (NYSE:X) Ratings Coverage

Out of 18 analysts covering United States Steel Corporation (NYSE:X), 4 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 22% are positive. United States Steel Corporation has been the topic of 39 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating by Morgan Stanley given on Monday, November 9. The company was initiated on Thursday, September 10 by BB&T Capital. Axiom Capital initiated United States Steel Corporation (NYSE:X) on Friday, August 21 with “Sell” rating. Argus Research downgraded the shares of X in a report on Thursday, January 28 to “Hold” rating. The rating was upgraded by Deutsche Bank on Wednesday, July 6 to “Hold”. JP Morgan upgraded the stock to “Overweight” rating in Thursday, July 30 report. Macquarie Research downgraded the stock to “Underperform” rating in Thursday, April 28 report. As per Wednesday, June 15, the company rating was upgraded by Bank of America. On Wednesday, November 4 the stock rating was downgraded by Deutsche Bank to “Hold”. The firm has “Underperform” rating by Jefferies given on Monday, March 21.

According to Zacks Investment Research, “United States Steel manufactures and sells a variety of steel mill products, coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works, the Fairfield (Alabama) Works near Birmingham, the Mon Valley Works ( which includes the Edgar Thomson steelmaking and Irvin finishing operations) on the Monongahela River near Pittsburgh, and U. S. Steel Kosice in the Slovak Republic.”

Another recent and important United States Steel Corporation (NYSE:X) news was published by Prnewswire.com which published an article titled: “U. S. Steel Conference Call Available on Company Website” on October 06, 2016.

X Company Profile

United States Steel Corporation (U. S. Steel), incorporated on May 25, 2001, is an integrated steel producer. The Firm is engaged in producing flat-rolled and tubular products with production activities in North America and Europe. The Firm operates through three divisions: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular). U. S. Steel is also engaged in other business activities consisting primarily of railroad services and real estate operations. U. S. Steel owns, develops and manages various real estate assets, which include approximately 50,000 acres of surface rights primarily in Alabama, Illinois, Maryland, Michigan, Minnesota and Pennsylvania. In addition, the Company holds ownership interests in joint ventures that are developing real estate projects in Alabama, Maryland and Illinois.

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