Market Analysts see United States Steel Corporation [X] gaining to $24. Time to buy?

United States Steel Corporation [NYSE: X] gained 1.13% on the last trading session, reaching $31.37 price per share at the time. The company report on March 2, 2023 that U. S. Steel and CarbonFree Ink MoU to Capture CO2 Emissions at One of the Largest Integrated Steel Mills in North America.

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CarbonFree’s SkyCycle™ Technology Would Capture and Mineralize up to 50,000 Metric Tons of CO2 Annually from U. S. Steel’s Facility in Gary, Indiana.

United States Steel Corporation (NYSE: X) (“U. S. Steel”) and CarbonFree Chemicals Holdings, LLC (CarbonFree) have signed a non-binding Memorandum of Understanding (MoU) to jointly pursue the capture of CO2 emissions generated from U. S. Steel’s Gary Works manufacturing plant using CarbonFree’s SkyCycle™ technology. If a definitive agreement is reached, the project is expected to capture and mineralize up to 50,000 metric tons of CO2 per year, the equivalent to carbon emissions from nearly 11,000 passenger cars.

United States Steel Corporation represents 232.40 million in outstanding shares, while the company has a total market value of $7.03 billion with the latest information. X stock price has been found in the range of $30.88 to $31.55.

If compared to the average trading volume of 6.66M shares, X reached a trading volume of 8612809 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 $28.07 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 3.00. 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.

BofA Securities have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $49 to $44. The new note on the price target was released on June 17, 2022, representing the official price target for United States Steel Corporation stock. Previously, the target price had yet another drop from $34 to $28, while JP Morgan kept a Underweight rating on X stock. On March 07, 2022, analysts increased their price target for X shares from 21 to 31.

The Average True Range (ATR) for United States Steel Corporation is set at 1.13, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 0.71, with the Price to Cash per share for the same quarter was set at 15.64. Price to Free Cash Flow for X in the course of the last twelve months was 4.05 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 10.97. With this latest performance, X shares gained by 6.92% in over the last four-week period, additionally plugging by 37.17% over the last 6 months – not to mention a rise of 8.85% 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 67.09, with the RSI for the last a single of trading hit 73.00, and the three-weeks RSI is set at 64.00 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 28.03, while it was recorded at 30.51 for the last single week of trading, and 23.57 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 +14.05 and a Gross Margin at +15.89. United States Steel Corporation’s Net Margin is presently recorded at +11.97.

Return on Equity for this stock inclined to 26.25, with Return on Assets sitting at 13.54.

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 $5,118 million, or 79.20% of X stock, in the hands of institutional investors. The top three institutional holders of X stocks are: BLACKROCK INC. with ownership of 21,493,323, which is approximately 3.27% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 21,033,474 shares of the stock with an approximate value of $659.82 million in X stocks shares; and STATE STREET CORP, currently with $324.9 million in X stock with ownership of nearly 10.552% of the company’s market capitalization.

Positions in United States Steel Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 194 institutional holders increased their position in United States Steel Corporation [NYSE:X] by around 17,099,533 shares. Additionally, 221 investors decreased positions by around 33,942,090 shares, while 76 investors held positions by with 112,097,310 shares. The mentioned changes placed institutional holdings at 163,138,933 shares, according to the latest SEC report filing. X stock had 82 new institutional investments in for a total of 5,566,539 shares, while 59 institutional investors sold positions of 4,973,327 shares during the same period.


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