X

Jefferies Initiates Coverage of United States Steel (X) with Buy Recommendation

Fintel reports that on May 20, 2024, Jefferies initiated coverage of United States Steel (NYSE:X) with a Buy recommendation.

Analyst Price Forecast Suggests 13.10% Upside

As of May 8, 2024, the average one-year price target for United States Steel is 40.61. The forecasts range from a low of 14.50 to a high of $53.02. The average price target represents an increase of 13.10% from its latest reported closing price of 35.91.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for United States Steel is 15,057MM, a decrease of 15.14%. The projected annual non-GAAP EPS is 1.97.

What is the Fund Sentiment?

There are 935 funds or institutions reporting positions in United States Steel. This is an decrease of 13 owner(s) or 1.37% in the last quarter. Average portfolio weight of all funds dedicated to X is 0.48%, an increase of 20.20%. Total shares owned by institutions increased in the last three months by 3.35% to 208,061K shares. X / United States Steel Corporation Put/Call Ratios The put/call ratio of X is 1.62, indicating a bearish outlook.

What are Other Shareholders Doing?

X / United States Steel Corporation Shares Held by Institutions

Pentwater Capital Management holds 16,774K shares representing 7.46% ownership of the company. In its prior filing, the firm reported owning 10,420K shares , representing an increase of 37.88%. The firm increased its portfolio allocation in X by 23.32% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 6,771K shares representing 3.01% ownership of the company. In its prior filing, the firm reported owning 6,968K shares , representing a decrease of 2.92%. The firm increased its portfolio allocation in X by 34.49% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,284K shares representing 2.79% ownership of the company. In its prior filing, the firm reported owning 6,208K shares , representing an increase of 1.22%. The firm increased its portfolio allocation in X by 35.50% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 5,111K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 5,164K shares , representing a decrease of 1.04%. The firm increased its portfolio allocation in X by 30.23% over the last quarter.

Balyasny Asset Management holds 4,764K shares representing 2.12% ownership of the company. In its prior filing, the firm reported owning 3,378K shares , representing an increase of 29.08%. The firm increased its portfolio allocation in X by 9.84% over the last quarter.

United States Steel Background Information
(This description is provided by the company.)

Founded in 1901, the United States Steel Corporation is a Fortune 250 company and leading integrated steel producer. With extensive iron ore production and an annual raw steelmaking capability of 26.2 million net tons, U. S. Steel produces high value-added steel products for the automotive, infrastructure, appliance, container, and energy industries. The company's Best of BothSM integrated and mini-mill technology strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With renewed emphasis on innovation and customer focus, the company produces cutting-edge products such as U. S. Steel's proprietary XG3™ advanced high-strength steel. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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