Morgan Stanley Initiates Coverage on POSCO (PKX)

Investment analysts at Morgan Stanley started coverage on shares of POSCO (NYSE:PKX) in a report issued on Wednesday, Marketbeat reports. The brokerage set a “weight” rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. ValuEngine downgraded POSCO from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Zacks Investment Research upgraded POSCO from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Daiwa Capital Markets assumed coverage on POSCO in a report on Monday, September 10th. They set an “outperform” rating on the stock. Finally, Goldman Sachs Group downgraded POSCO from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. POSCO presently has a consensus rating of “Hold” and a consensus target price of $98.00.

PKX traded down $1.49 during trading on Wednesday, hitting $58.08. 2,607 shares of the stock were exchanged, compared to its average volume of 184,407. The company has a market capitalization of $21.14 billion, a P/E ratio of 7.46, a PEG ratio of 1.30 and a beta of 1.35. POSCO has a 1 year low of $55.40 and a 1 year high of $93.12. The company has a quick ratio of 1.14, a current ratio of 1.67 and a debt-to-equity ratio of 0.20.

POSCO (NYSE:PKX) last released its quarterly earnings data on Tuesday, September 4th. The basic materials company reported $1.56 EPS for the quarter. The company had revenue of $14.96 billion for the quarter. POSCO had a return on equity of 6.21% and a net margin of 4.77%. Equities analysts anticipate that POSCO will post 9.35 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PKX. Wells Fargo & Company MN boosted its position in POSCO by 43.2% during the 1st quarter. Wells Fargo & Company MN now owns 9,508 shares of the basic materials company’s stock valued at $750,000 after acquiring an additional 2,869 shares in the last quarter. BlackRock Inc. boosted its position in POSCO by 36.7% during the 1st quarter. BlackRock Inc. now owns 405,650 shares of the basic materials company’s stock valued at $31,986,000 after acquiring an additional 109,002 shares in the last quarter. Bank of Montreal Can boosted its position in POSCO by 4.7% during the 2nd quarter. Bank of Montreal Can now owns 19,364 shares of the basic materials company’s stock valued at $1,435,000 after acquiring an additional 867 shares in the last quarter. Boston Advisors LLC bought a new stake in POSCO during the 2nd quarter valued at $1,298,000. Finally, Acadian Asset Management LLC boosted its position in POSCO by 1.6% during the 2nd quarter. Acadian Asset Management LLC now owns 159,642 shares of the basic materials company’s stock valued at $11,833,000 after acquiring an additional 2,494 shares in the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

POSCO Company Profile

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized and electrical galvanized steel, electrical and stainless steel, automotive materials, titanium, magnesium, and aluminum-plated products.

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