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United States Steel (X) Dips More Than Broader Markets: What You Should Know
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United States Steel (X - Free Report) closed at $24.45 in the latest trading session, marking a -1.01% move from the prior day. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Heading into today, shares of the steel maker had gained 16.07% over the past month, outpacing the Basic Materials sector's gain of 5.33% and the S&P 500's gain of 4.22% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.83, down 52.59% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.99 billion, down 20.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.25 per share and revenue of $17.82 billion, which would represent changes of -57.29% and -15.41%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 7.2% higher. United States Steel is currently a Zacks Rank #3 (Hold).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 5.81. This valuation marks a discount compared to its industry's average Forward P/E of 8.49.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Dips More Than Broader Markets: What You Should Know
United States Steel (X - Free Report) closed at $24.45 in the latest trading session, marking a -1.01% move from the prior day. This move lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Heading into today, shares of the steel maker had gained 16.07% over the past month, outpacing the Basic Materials sector's gain of 5.33% and the S&P 500's gain of 4.22% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.83, down 52.59% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.99 billion, down 20.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.25 per share and revenue of $17.82 billion, which would represent changes of -57.29% and -15.41%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 7.2% higher. United States Steel is currently a Zacks Rank #3 (Hold).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 5.81. This valuation marks a discount compared to its industry's average Forward P/E of 8.49.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.