Dallas, Texas 01/08/2014 (FINANCIALSTRENDS) – United States Steel Corporation (NYSE:X), the U.S. based Metal Fabrication company had voted for changes at the management in late November. As of January 1, 2014, the new US Steel chairman is David Sutherland who was earlier Chief Executive Officer at another steel-making enterprise IPSCO. He replaces John Surma as the Chiarman of United Steel. The trend for United Steel over the New Year has been mixed, with analysts at Cowen backing US steel as well as ArcelorMittal, given the increase in steel prices since. The steel prices have been on an increase after the global economic recovery led to an increase in production output for most manufacturers.
KeyBanc says Buy
However, United States Steel Corporation (NYSE:X) at the start of Jan, has received – buy- upgrade by KeyBanc, Unite Steel, according to KeyBanc is expected to hit the highs, because of the demand for carbon hot-rolled steel price revisions which are pending to be completed by 2014. United Steel is expected to move forward on its inventory with regard to raw materials, leverage-worthy EPS as well as EBITDA. Besides, the company is expected to make good as the interest rate environment shows an increase due to higher pension benefits. Additionally, United Steel is expected to forge ahead with other deals which will help the company multiply revenue earning capacities. The likely form of expansion could be through JV or through agreements with Allegheny Technologies.
United States Steel Corporation (NYSE:X) is one of the major steel enterprises involved in the production of flat-rolled as well as tubular products and is expected to improve production operations in countries such as North America as well as Europe. This $4.26 billion market cap company has volume trades in the range of 4,731,309 and is expected to offer dividends at the rate of 0.20 and yield of 0.70. It also has a 52-week high of $3.15 and 52-week low of $15.80.