Credit Suisse slashes price target on United States Steel Corporation [X] – find out why.

United States Steel Corporation [NYSE: X] loss -2.85% or -0.77 points to close at $26.27 with a heavy trading volume of 6074560 shares. The company report on November 8, 2022 that U. S. Steel Reaches Tentative Agreement with United Steelworkers.


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United States Steel Corporation (NYSE: X) announced today that it has reached a tentative agreement with the United Steelworkers (USW) on a new four-year contract covering approximately 11,000 USW-represented employees at the company’s domestic flat-rolled facilities, iron ore mining facilities and applicable tubular operations. The tentative agreement remains subject to ratification.

“We are pleased to have reached a tentative agreement with the USW that supports our unionized workforce while balancing the interests of all our stakeholders towards our Best for All® future,” said David B. Burritt, President and Chief Executive Officer of U. S. Steel. “I appreciate the efforts of both sides to work towards a responsible and mutually beneficial agreement. The time spent resulted in a contract that truly is Best for All. We leveraged our strong balance sheet to reward union employees with a bonus and strong base wages. We also leveraged our overfunded pension and OPEB plans to support the benefits provided to our employees. The tentative agreement reflects our core belief that when U. S. Steel does well, employees do well. Strong base wage increases and benefit enhancements to support our employees’ wellbeing are key parts of this tentative agreement because we know their hard work is essential to delivering sustainable steel solutions for people and planet and enhancing our customer satisfaction.”.

It opened the trading session at $27.06, the shares rose to $27.295 and dropped to $26.19, the range by which the price of stock traded the whole day. The daily chart for X points out that the company has recorded 3.02% gains over the past six months. However, it is still -60.09% lower than its most recent low trading price.

If we look at the average trading volume of 11.21M shares, X reached to a volume of 6074560 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $25.54 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 2.90. 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.

Credit Suisse have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 17, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $34 to $28. The new note on the price target was released on June 14, 2022, representing the official price target for United States Steel Corporation stock. Previously, the target price had yet another raise from $21 to $31, while Morgan Stanley kept a Equal-Weight rating on X stock.

The Average True Range (ATR) for United States Steel Corporation is set at 1.09, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 14.64. Price to Free Cash Flow for X in the course of the last twelve months was 2.24 with Quick ratio for the last quarter at 1.40.

Trading performance analysis for X stock

United States Steel Corporation [X] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.10. With this latest performance, X shares gained by 38.55% in over the last four-week period, additionally plugging by 3.02% over the last 6 months – not to mention a rise of 16.39% 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 64.99, with the RSI for the last a single of trading hit 65.21, and the three-weeks RSI is set at 62.96 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 21.69, while it was recorded at 26.37 for the last single week of trading, and 24.89 for the last 200 days.

United States Steel Corporation [X]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and United States Steel Corporation [X] shares currently have an operating margin of +22.79 and a Gross Margin at +24.69. United States Steel Corporation’s Net Margin is presently recorded at +20.42.

Return on Equity for this stock inclined to 65.24, with Return on Assets sitting at 27.94.

United States Steel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.00.

United States Steel Corporation [X]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at United States Steel Corporation [X]

There are presently around $4,734 million, or 79.20% of X stock, in the hands of institutional investors. The top three institutional holders of X stocks are: VANGUARD GROUP INC with ownership of 20,928,140, which is approximately -8.604% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 20,812,719 shares of the stock with an approximate value of $546.75 million in X stocks shares; and SOROBAN CAPITAL PARTNERS LP, currently with $288.97 million in X stock with ownership of nearly -5.853% 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 171 institutional holders increased their position in United States Steel Corporation [NYSE:X] by around 19,612,714 shares. Additionally, 220 investors decreased positions by around 30,252,299 shares, while 92 investors held positions by with 130,348,517 shares. The mentioned changes placed institutional holdings at 180,213,530 shares, according to the latest SEC report filing. X stock had 45 new institutional investments in for a total of 3,964,869 shares, while 70 institutional investors sold positions of 5,691,131 shares during the same period.

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