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Analysts Have Been Downgrading U.S. Steel Recently


Dec. 4 2020, Updated 10:53 a.m. ET

U.S. Steel

U.S. Steel Corporation (X) is scheduled to release its third-quarter earnings results on November 1. The stock has received “buy” or higher ratings from eight analysts, while six analysts have given it “hold” ratings. The remaining two analysts polled by Thomson Reuters on October 9 have given it “sell” or equivalent ratings.

U.S. Steel carries a mean consensus price target $42.43, which represents a 45.2% upside over its October 9 closing price.

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Several analysts have downgraded U.S. Steel over the last month. In September, Deutsche Bank downgraded U.S. Steel from a “buy” to a “hold” and lowered its price target from $47 to $35. BMO also lowered U.S. Steel’s target price from $45 to $36. In August, Morgan Stanley analyst Piyush Sood double downgraded U.S. Steel from an “overweight” to an “underweight.”

U.S. Steel stock has slumped this year with a YTD (year-to-date) loss of 16.7%. AK Steel (AKS) and ArcelorMittal (MT) have fallen 15.2% and 8.4%, respectively, this year based on their October 9 closing prices. However, Cleveland-Cliffs (CLF) has outperformed these steel producers (XME) with a YTD gain of 70.0%.

Third-quarter earnings

Analysts polled by Thomson Reuters expect U.S. Steel to post revenue of $3.71 billion in the third quarter compared to $3.60 billion in the second quarter and $3.25 billion in the third quarter of 2017. The company is expected to post an adjusted EBITDA of $533 million in the third quarter compared to $451 million in the second quarter and $342 million in the third quarter of 2017.


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