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United States Steel (X) Outpaces Stock Market Gains: What You Should Know
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United States Steel (X - Free Report) closed the most recent trading day at $24.61, moving +0.41% from the previous trading session. This change outpaced the S&P 500's 0.39% gain on the day.
Prior to today's trading, shares of the steel maker had gained 4.7% over the past month. This has outpaced the Basic Materials sector's gain of 2.31% and the S&P 500's gain of 3.16% in that time.
United States Steel will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect United States Steel to post earnings of $1.85 per share. This would mark a year-over-year decline of 52.07%. Our most recent consensus estimate is calling for quarterly revenue of $4.95 billion, down 21.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.27 per share and revenue of $17.89 billion. These totals would mark changes of -57.09% and -15.06%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.36% higher within the past month. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 5.74. This represents a discount compared to its industry's average Forward P/E of 9.06.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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United States Steel (X) Outpaces Stock Market Gains: What You Should Know
United States Steel (X - Free Report) closed the most recent trading day at $24.61, moving +0.41% from the previous trading session. This change outpaced the S&P 500's 0.39% gain on the day.
Prior to today's trading, shares of the steel maker had gained 4.7% over the past month. This has outpaced the Basic Materials sector's gain of 2.31% and the S&P 500's gain of 3.16% in that time.
United States Steel will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect United States Steel to post earnings of $1.85 per share. This would mark a year-over-year decline of 52.07%. Our most recent consensus estimate is calling for quarterly revenue of $4.95 billion, down 21.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.27 per share and revenue of $17.89 billion. These totals would mark changes of -57.09% and -15.06%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.36% higher within the past month. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 5.74. This represents a discount compared to its industry's average Forward P/E of 9.06.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.