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

United States Steel Corporation [NYSE: X] loss -1.22% or -0.37 points to close at $29.92 with a heavy trading volume of 6183953 shares. The company report on August 17, 2023 at 10:13 PM that Cleveland-Cliffs Receives Exclusive Assignment of Right to Bid from United Steelworkers.

Cleveland-Cliffs Inc. (NYSE: CLF) (“Cleveland-Cliffs” or “Cliffs”) today announced receipt of the assignment of the United Steelworkers’ (USW) right to bid under their Basic Labor Agreement with United States Steel Corporation (NYSE:X) (“U.S. Steel”). With this exclusive assignment, Cliffs is the only realistic buyer able to acquire the totality of U.S. Steel. Furthermore, Cliffs has agreed to assume, upon closing of a transaction, all of the agreements between U.S. Steel and the USW that are applicable to the U.S. Steel employees.

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Under the terms of the USW’s collective bargaining agreement with U.S. Steel, a potential sale of the whole company or USW-represented assets could not be consummated without the support of the USW. The assignment transfers to Cliffs the USW’s right to bid on such potential transactions. The USW’s transfer and assignment only applies to Cliffs.

It opened the trading session at $30.41, the shares rose to $30.61 and dropped to $29.84, the range by which the price of stock traded the whole day. The daily chart for X points out that the company has recorded 3.49% gains over the past six months. However, it is still -67.24% lower than its most recent low trading price.

If we look at the average trading volume of 10.36M shares, X reached to a volume of 6183953 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 $23.37 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.

JP Morgan have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 14, 2023.

The Average True Range (ATR) for United States Steel Corporation is set at 1.28, 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 0.63, with the Price to Cash per share for the same quarter was set at 13.74. Price to Free Cash Flow for X in the course of the last twelve months was 25.69 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for X stock

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 -6.30. With this latest performance, X shares gained by 21.28% in over the last four-week period, additionally plugging by 3.49% over the last 6 months – not to mention a rise of 15.79% 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 60.76, with the RSI for the last a single of trading hit 58.14, and the three-weeks RSI is set at 61.08 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 25.79, while it was recorded at 30.80 for the last single week of trading, and 25.61 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 Total Capital for X is now 21.45, given the latest momentum, and Return on Invested Capital for the company is 18.53. Return on Equity for this stock inclined to 26.25, with Return on Assets sitting at 13.54. 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 40.43. Additionally, X Total Debt to Total Capital is recorded at 28.79, with Total Debt to Total Assets ending up at 21.23. Long-Term Debt to Equity for the company is recorded at 39.33, with the Long-Term Debt to Total Capital now at 28.01.

Reflecting on the efficiency of the workforce at the company, United States Steel Corporation [X] managed to generate an average of $110,994 per employee. Receivables Turnover for the company is 11.32 with a Total Asset Turnover recorded at a value of 1.13.United States Steel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.90.

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 Institutional ownership at United States Steel Corporation [X]

The top three institutional holders of X stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in X stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in X stock with ownership which is approximately 5.7381%.

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