United States Steel Corporation (X) is Downgraded by BofA/Merrill to Underperform

United States Steel Corporation (X) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on United States Steel Corporation. Company shares were Upgraded by Deutsche Bank on Jul 6, 2016 to ” Hold”, Firm has raised the Price Target to $ 15 from a previous price target of $8 .United States Steel Corporation was Upgraded by BofA/Merrill to ” Neutral” on Jun 15, 2016.

On the company’s financial health, United States Steel Corporation reported $-2.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.89 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $-1.26. The company had revenue of $2341.00 million for the quarter, compared to analysts expectations of $2458.97 million. The company’s revenue was down -28.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.

United States Steel Corporation opened for trading at $25.01 and hit $26.92 on the upside on Thursday, eventually ending the session at $26.9, with a gain of 5.53% or 1.41 points. The heightened volatility saw the trading volume jump to 1,81,53,926 shares. Company has a market cap of $3,939 M.

In a different news, on May 9, 2016, Paul Anthony Mascarenas (director) purchased 1,000 shares at $18.90 per share price. According to the SEC, on May 9, 2016, Stephen J Girsky (director) purchased 2,000 shares at $18.93 per share price. On Aug 24, 2015, Murry Gerber (director) purchased 7,800 shares at $16.88 per share price, according to the Form-4 filing with the securities and exchange commission.

United States Steel Corporation (U. S. Steel) is a steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-rolled Products (Flat-rolled) U. S. Steel Europe (USSE) and Tubular Products (Tubular). The results of the Company’s railroad and real estate businesses are combined under the Other Businesses category. The Flat-rolled Products segment includes the operating results of all facilities within U. S. Steel’s integrated steel plants in the United States except the Fairfield pipe facility. The USSE segment includes the operating results of U. S. Steel Kosice (USSK) the Company’s steel plant and coke production facilities in Slovakia. The Tubular segment includes the operating results of U. S. Steel’s tubular production facilities primarily in the United States and equity investees in the United States and Brazil.

United States Steel Corporation

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