POSCO Holdings Inc. (NYSE:PKX) Receives Average Rating of “Reduce” from Brokerages

Posted by on Nov 3rd, 2023

Shares of POSCO Holdings Inc. (NYSE:PKX – Get Free Report) have been assigned a consensus recommendation of “Reduce” from the four analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company.

Several equities analysts have recently issued reports on PKX shares. Morgan Stanley lowered shares of POSCO from an “equal weight” rating to an “underweight” rating in a report on Monday, July 31st. UBS Group lowered shares of POSCO from a “buy” rating to a “neutral” rating in a report on Wednesday, July 26th. StockNews.com started coverage on shares of POSCO in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Citigroup lowered shares of POSCO from a “buy” rating to a “neutral” rating in a report on Monday, July 24th.

View Our Latest Stock Analysis on POSCO

POSCO Stock Performance

POSCO stock opened at $80.64 on Friday. The stock’s 50 day simple moving average is $98.47 and its two-hundred day simple moving average is $89.54. POSCO has a fifty-two week low of $44.19 and a fifty-two week high of $133.09. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.30.

POSCO (NYSE:PKX – Get Free Report) last released its earnings results on Wednesday, September 6th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter. POSCO had a net margin of 3.63% and a return on equity of 4.35%. The firm had revenue of $15.29 billion during the quarter. As a group, analysts expect that POSCO will post 7.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POSCO

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in POSCO by 56.5% during the 1st quarter. Captrust Financial Advisors now owns 557 shares of the basic materials company’s stock valued at $33,000 after buying an additional 201 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in POSCO during the 1st quarter valued at $50,000. CWM LLC raised its stake in POSCO by 29.9% during the 1st quarter. CWM LLC now owns 1,065 shares of the basic materials company’s stock valued at $74,000 after buying an additional 245 shares during the last quarter. Comerica Bank purchased a new stake in POSCO during the 2nd quarter valued at $84,000. Finally, Paradigm Asset Management Co. LLC raised its stake in POSCO by 187.5% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the basic materials company’s stock valued at $118,000 after buying an additional 750 shares during the last quarter. 2.95% of the stock is currently owned by hedge funds and other institutional investors.

About POSCO

(Get Free Report

POSCO Holdings Inc, together with its subsidiaries, manufactures and sells iron and steel rolled products in South Korea and internationally. It operates in two segments Steel and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized steel, electrical steel, stainless steel, and titanium.

Further Reading

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