POSCO (NYSE:PKX) Share Price Passes Above 200-Day Moving Average – Here’s Why

POSCO (NYSE:PKX)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $55.84 and traded as high as $57.51. POSCO shares last traded at $56.5210, with a volume of 156,645 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of POSCO in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

POSCO Stock Up 0.0%

The business’s fifty day simple moving average is $62.03 and its two-hundred day simple moving average is $55.88. The company has a market cap of $17.09 billion, a PE ratio of 42.81, a PEG ratio of 0.31 and a beta of 1.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.88 and a quick ratio of 1.29.

POSCO (NYSE:PKX) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($1.06). POSCO had a return on equity of 1.09% and a net margin of 0.97%.The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $11.85 billion. On average, analysts predict that POSCO will post 3.74 earnings per share for the current year.

Institutional Trading of POSCO

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of POSCO during the 4th quarter valued at approximately $25,000. Founders Capital Management increased its holdings in POSCO by 100.0% in the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Allworth Financial LP increased its holdings in POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 232 shares in the last quarter. Headlands Technologies LLC raised its position in POSCO by 1,276.9% during the second quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,328 shares during the period. Finally, MAI Capital Management acquired a new position in POSCO during the second quarter worth $73,000.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.