POSCO (NYSE:PKX) Shares Pass Above 200 Day Moving Average – Should You Sell?

POSCO (NYSE:PKX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.45 and traded as high as $58.00. POSCO shares last traded at $57.4550, with a volume of 117,993 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PKX. Wall Street Zen raised POSCO from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of POSCO in a report on Wednesday, October 8th. UBS Group upgraded POSCO from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Morgan Stanley upgraded POSCO from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

POSCO Stock Up 2.3%

The stock has a 50-day simple moving average of $51.26 and a two-hundred day simple moving average of $50.45. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.26. The firm has a market cap of $17.44 billion, a PE ratio of 77.64, a P/E/G ratio of 0.40 and a beta of 1.46.

POSCO (NYSE:PKX) last released its quarterly earnings results on Monday, October 27th. The basic materials company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. POSCO had a return on equity of 0.74% and a net margin of 0.64%.The business had revenue of $12.06 billion for the quarter, compared to the consensus estimate of $12.41 billion. Analysts expect that POSCO will post 3.74 earnings per share for the current year.

Institutional Trading of POSCO

Large investors have recently modified their holdings of the business. Ameritas Advisory Services LLC bought a new stake in shares of POSCO in the second quarter worth about $66,000. Headlands Technologies LLC boosted its position in POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,328 shares in the last quarter. MAI Capital Management bought a new stake in POSCO during the 2nd quarter valued at approximately $73,000. GAMMA Investing LLC boosted its position in POSCO by 329.1% during the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 1,231 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in POSCO by 604.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,642 shares of the basic materials company’s stock valued at $80,000 after acquiring an additional 1,409 shares in the last quarter.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.