Why United States Steel Corporation (X) Stock Could See Much Higher Prices Ahead

United States Steel Corporation (NYSE: X) is 8.53% higher on its value in year-to-date trading and has touched a low of $4.54 and a high of $20.00 in the current 52-week trading range. The X stock was last observed hovering at around $17.14 in the last trading session, with the day’s gains setting it 1.06% off its average median price target of $8.00 for the next 12 months. It is also 4.21% off the consensus price target high of $19.00 offered by 14 analysts, but current levels are -420.0% lower than the price target low of $3.50 for the same period.

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Currently trading at $18.20, the stock is 4.25% and 32.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.79 million and changing 6.18% at the moment leaves the stock 98.29% off its SMA200. X registered 68.67% gain for a year compared to 6-month gain of 162.63%. The firm has a 50-day simple moving average (SMA 50) of $15.73 and a 200-day simple moving average (SMA200) of $9.92.

The stock witnessed a 19.58% loss in the last 1 month and extending the period to 3 months gives it a 132.44%, and is 11.59% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.55% over the week and 6.69% over the month.

United States Steel Corporation (X) has around 27500 employees, a market worth around $4.03B and $10.00B in sales. Profit margin for the company is -18.80%. Distance from 52-week low is 300.88% and -9.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.30%).

United States Steel Corporation (X) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for United States Steel Corporation (X) is a “Hold”. 14 analysts offering their recommendations for the stock have an average rating of 3.20, where 6 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 4 analysts have rated the stock as a Sell or Underperform.

United States Steel Corporation is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at -$0.61 with sales reaching $2.59B over the same period.The EPS is expected to shrink by -158.80% this year, but quarterly earnings will post -24.50% year-over-year. Quarterly sales are estimated to shrink -8.30% in year-over-year returns.

United States Steel Corporation (X) Top Institutional Holders

378 institutions hold shares in United States Steel Corporation (X), with 2.52M shares held by insiders accounting for 1.14% while institutional investors hold 57.24% of the company’s shares. The shares outstanding are 220.40M, and float is at 217.89M with Short Float at 16.55%. Institutions hold 56.59% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 23.86 million shares valued at $175.1 million. The investor’s holdings represent 10.82% of the X Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 18.37 million shares valued at $134.81 million to account for 8.33% of the shares outstanding. The other top investors are State Street Corporation which holds 10.34 million shares representing 4.69% and valued at over $75.9 million, while Dimensional Fund Advisors LP holds 3.79% of the shares totaling 8.35 million with a market value of $61.29 million.

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United States Steel Corporation (X): Who are the competitors?

The company’s main competitors (and peers) include Steel Dynamics Inc. (STLD) that is trading 14.67% up over the past 12 months. POSCO (PKX) is 32.57% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.53% from the last report on Nov 12, 2020 to stand at a total of 36.61 million short shares sold with a short interest ratio of 2.28.

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