United States Steel Corporation [NYSE: X] jumped around 0.19 points on Friday, while shares priced at $22.57 at the close of the session, up 0.85%. The company report on November 11, 2021 that United States Steel Corporation Further Strengthens Balance Sheet by Permanently De-Risking a Portion of its Pension Plan.
United States Steel Corporation (NYSE: X) (“U. S. Steel”) announced it has purchased group annuity contracts from Banner Life Insurance Company and William Penn Life Insurance Company of New York (both subsidiaries of Legal & General America, Inc. and, together, referred to as “Legal & General”) to transfer approximately $284 million of the Company’s pension plan obligations to Legal & General. The purchase of the group annuity contracts will be funded directly by the assets of the pension plan.
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“Legal & General was carefully selected by an independent fiduciary as a highly rated and experienced retirement benefits provider to ensure our retirees’ benefits are secured and maintained, a continued priority of our Best for All℠ strategy,” said U. S. Steel President and Chief Executive Officer David B. Burritt. “This transaction is yet another meaningful step in strengthening the Company’s balance sheet and further de-risking our pension plan, a plan that remains more than 100% funded and is an important source of differentiation versus some peers in the steel industry.”.
United States Steel Corporation stock is now 34.59% up from its year-to-date (YTD) trading value. X Stock saw the intraday high of $22.80 and lowest of $22.055 per share. The company’s 52-week high price is 30.57, which means current price is +39.93% above from all time high which was touched on 08/18/21.
Compared to the average trading volume of 21.49M shares, X reached a trading volume of 17746245 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 $31.50 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 2.80. 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.
Wolfe Research have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on November 17, 2021. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $35 to $17. The new note on the price target was released on October 18, 2021, representing the official price target for United States Steel Corporation stock. Previously, the target price had yet another raise to $25, while Argus analysts kept a Buy rating on X stock. On October 06, 2021, analysts decreased their price target for X shares from 34 to 21.
The Average True Range (ATR) for United States Steel Corporation is set at 1.18, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 7.64. Price to Free Cash Flow for X in the course of the last twelve months was 2.63 with Quick ratio for the last quarter at 1.20.
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 -7.00. With this latest performance, X shares dropped by -14.41% in over the last four-week period, additionally sinking by -11.97% over the last 6 months – not to mention a rise of 48.29% 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 38.63, with the RSI for the last a single of trading hit 32.33, and the three-weeks RSI is set at 42.36 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 23.63, while it was recorded at 22.63 for the last single week of trading, and 24.02 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 -7.24 and a Gross Margin at -4.39. United States Steel Corporation’s Net Margin is presently recorded at -11.96.
Return on Total Capital for X is now -8.31, 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 134.94. Additionally, X Total Debt to Total Capital is recorded at 57.44, with Total Debt to Total Assets ending up at 42.37. Long-Term Debt to Equity for the company is recorded at 128.31, with the Long-Term Debt to Total Capital now at 54.61.
Reflecting on the efficiency of the workforce at the company, United States Steel Corporation [X] managed to generate an average of -$49,893 per employee. 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 -1.21/share EPS, while the average EPS was predicted by analysts to be reported at -1.45/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.60%. 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 $4,182 million, or 70.00% of X stock, in the hands of institutional investors. The top three institutional holders of X stocks are: BLACKROCK INC. with ownership of 24,304,863, which is approximately -7.679% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 23,122,257 shares of the stock with an approximate value of $521.87 million in X stocks shares; and STATE STREET CORP, currently with $222.92 million in X stock with ownership of nearly -3.613% of the company’s market capitalization.
Positions in United States Steel Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 214 institutional holders increased their position in United States Steel Corporation [NYSE:X] by around 28,325,878 shares. Additionally, 171 investors decreased positions by around 27,599,398 shares, while 72 investors held positions by with 129,350,431 shares. The mentioned changes placed institutional holdings at 185,275,707 shares, according to the latest SEC report filing. X stock had 81 new institutional investments in for a total of 10,811,410 shares, while 53 institutional investors sold positions of 6,234,582 shares during the same period.