why United States Steel Corp. [X] is a Good Choice for Investors After New Price Target of $42.60

United States Steel Corp. [NYSE: X] jumped around 0.3 points on Tuesday, while shares priced at $48.21 at the close of the session, up 0.63%. The company report on January 22, 2024 at 4:17 PM that United States Steel Corporation to Release Fourth Quarter and Full Year 2023 Financial Results on February 1, 2024.

United States Steel Corporation (NYSE: X) (“U. S. Steel”) today announced that it will release financial results for the fourth quarter and full year 2023 on Thursday, February 1, 2024, following the close of trading on the New York Stock Exchange.

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As previously announced, on December 18, 2023, the company entered into a definitive merger agreement to be acquired by Nippon Steel Corporation. In light of the pending transaction, the company will not hold an earnings conference call. Instead, our earnings release, presentation, segment and financial operational data, and other relevant updates related to the quarter will be issued concurrently.

Compared to the average trading volume of 6.71M shares, X reached a trading volume of 4949905 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 Corp. [X]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for X shares is $42.60 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.

JP Morgan have made an estimate for United States Steel Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 12, 2024.

The Average True Range (ATR) for United States Steel Corp. is set at 0.76, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 14.46.

How has X stock performed recently?

United States Steel Corp. [X] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.07. With this latest performance, X shares gained by 0.82% in over the last four-week period, additionally plugging by 95.10% over the last 6 months – not to mention a rise of 70.90% 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 71.74, with the RSI for the last a single of trading hit 68.66, and the three-weeks RSI is set at 73.45 for United States Steel Corp. [X]. The present Moving Average for the last 50 days of trading for this stock 41.60, while it was recorded at 47.72 for the last single week of trading, and 30.72 for the last 200 days.

United States Steel Corp. [X]: Deeper insight into the fundamentals

United States Steel Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.95.

Earnings analysis for United States Steel Corp. [X]

With the latest financial reports released by the company, United States Steel Corp. posted 0.87/share EPS, while the average EPS was predicted by analysts to be reported at 0.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 38.10%. 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 Corp. go to 8.00%.

Insider trade positions for United States Steel Corp. [X]

The top three institutional holders of X stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in X stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in X stock with ownership which is approximately 5.8325%.