United States Steel Corporation [NYSE: X] traded at a high on 02/05/21, posting a 0.30 gain after which it closed the day’ session at $16.55. The company report on February 3, 2021 that United States Steel Corporation Announces Pricing of Upsized Common Stock Offering.
United States Steel Corporation (NYSE: X) (the “company” or “U. S. Steel”) announced the pricing of its upsized underwritten public offering of 42,000,000 shares of common stock, for gross proceeds of approximately $699 million. The size of the offering was upsized from 40,000,000 shares to 42,000,000 shares. The company has granted the underwriter a 30-day option to purchase up to 6,300,000 additional shares of common stock from the company. The offering is expected to close on or about February 5, 2021, subject to customary closing conditions.
U. S. Steel intends to use the net proceeds from the offering to redeem 35% of its outstanding 2025 Senior Secured Notes and for general corporate purposes, which may include further repayment of its outstanding indebtedness.
The results of the trading session contributed to over 22247993 shares changing hands. Over the past one week, the price volatility of United States Steel Corporation stands at 4.12% while the volatility over the past one month is 7.29%.
The market cap for X stock reached $3.64 billion, with 220.40 million shares outstanding and 217.74 million shares in the current float. Compared to the average trading volume of 16.15M shares, X reached a trading volume of 22247993 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about United States Steel Corporation [X]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for X shares is $14.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on X stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Deutsche Bank have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2021. The new note on the price target was released on December 09, 2020, representing the official price target for United States Steel Corporation stock. Previously, the target price had yet another raise to $17, while Morgan Stanley analysts kept a Equal-Weight rating on X stock.
The Average True Range (ATR) for United States Steel Corporation is set at 1.39, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 1.06.
How has X stock performed recently?
United States Steel Corporation [X] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.81. With this latest performance, X shares dropped by -22.37% in over the last four-week period, additionally plugging by 132.12% over the last 6 months – not to mention a rise of 75.32% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for X stock in for the last two-week period is set at 39.82, with the RSI for the last a single of trading hit 32.94, and the three-weeks RSI is set at 44.89 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 18.08, while it was recorded at 17.02 for the last single week of trading, and 10.71 for the last 200 days.
United States Steel Corporation [X]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and United States Steel Corporation [X] shares currently have an operating margin of -7.57 and a Gross Margin at -4.72. United States Steel Corporation’s Net Margin is presently recorded at -11.96.
Return on Total Capital for X is now -8.72, given the latest momentum, and Return on Invested Capital for the company is -14.09. Return on Equity for this stock declined to -29.58, with Return on Assets sitting at -9.84. When it comes to the capital structure of this company, United States Steel Corporation [X] has a Total Debt to Total Equity ratio set at 133.39. Additionally, X Total Debt to Total Capital is recorded at 57.15, with Total Debt to Total Assets ending up at 41.88. Long-Term Debt to Equity for the company is recorded at 128.31, with the Long-Term Debt to Total Capital now at 54.98.
Receivables Turnover for the company is 8.97 with a Total Asset Turnover recorded at a value of 0.82.United States Steel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.70.
Earnings analysis for United States Steel Corporation [X]
With the latest financial reports released by the company, United States Steel Corporation posted -0.73/share EPS, while the average EPS was predicted by analysts to be reported at -0.88/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for X. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for United States Steel Corporation go to 8.00%.
Insider trade positions for United States Steel Corporation [X]
There are presently around $2,051 million, or 56.20% of X stock, in the hands of institutional investors. The top three institutional holders of X stocks are: BLACKROCK INC. with ownership of 26,584,496, which is approximately 11.442% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 18,366,698 shares of the stock with an approximate value of $303.97 million in X stocks shares; and STATE STREET CORP, currently with $171.13 million in X stock with ownership of nearly 17.899% of the company’s market capitalization.
Positions in United States Steel Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 126 institutional holders increased their position in United States Steel Corporation [NYSE:X] by around 17,941,930 shares. Additionally, 159 investors decreased positions by around 24,136,470 shares, while 71 investors held positions by with 81,862,054 shares. The mentioned changes placed institutional holdings at 123,940,454 shares, according to the latest SEC report filing. X stock had 53 new institutional investments in for a total of 7,631,864 shares, while 54 institutional investors sold positions of 11,882,617 shares during the same period.