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United States Steel (X) Gains As Market Dips: What You Should Know
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United States Steel (X - Free Report) closed at $21.71 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the steel maker had lost 6.73% in the past month. In that same time, the Basic Materials sector lost 2.95%, while the S&P 500 lost 3.49%.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release. In that report, analysts expect United States Steel to post earnings of $1.89 per share. This would mark a year-over-year decline of 64.74%. Meanwhile, our latest consensus estimate is calling for revenue of $5.03 billion, down 15.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.92 per share and revenue of $21.05 billion, which would represent changes of -26.41% and +3.81%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.78% lower. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 2.17 right now. Its industry sports an average Forward P/E of 2.9, so we one might conclude that United States Steel is trading at a discount comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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United States Steel (X) Gains As Market Dips: What You Should Know
United States Steel (X - Free Report) closed at $21.71 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the steel maker had lost 6.73% in the past month. In that same time, the Basic Materials sector lost 2.95%, while the S&P 500 lost 3.49%.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release. In that report, analysts expect United States Steel to post earnings of $1.89 per share. This would mark a year-over-year decline of 64.74%. Meanwhile, our latest consensus estimate is calling for revenue of $5.03 billion, down 15.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.92 per share and revenue of $21.05 billion, which would represent changes of -26.41% and +3.81%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.78% lower. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 2.17 right now. Its industry sports an average Forward P/E of 2.9, so we one might conclude that United States Steel is trading at a discount comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.