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United States Steel (X) Gains As Market Dips: What You Should Know
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In the latest trading session, United States Steel (X - Free Report) closed at $32.48, marking a +0.71% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the steel maker had gained 3.73% over the past month, outpacing the Basic Materials sector's gain of 1.04% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from United States Steel as it approaches its next earnings report date. On that day, United States Steel is projected to report earnings of $1.04 per share, which would represent a year-over-year decline of 46.67%. Meanwhile, our latest consensus estimate is calling for revenue of $4.39 billion, down 15.58% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.11 per share and revenue of $17.9 billion. These totals would mark changes of -58.69% and -15.02%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.49% higher. United States Steel is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, United States Steel is currently trading at a Forward P/E ratio of 7.84. Its industry sports an average Forward P/E of 8.28, 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 industry currently has a Zacks Industry Rank of 110, which puts it in the top 44% 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) Gains As Market Dips: What You Should Know
In the latest trading session, United States Steel (X - Free Report) closed at $32.48, marking a +0.71% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the steel maker had gained 3.73% over the past month, outpacing the Basic Materials sector's gain of 1.04% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from United States Steel as it approaches its next earnings report date. On that day, United States Steel is projected to report earnings of $1.04 per share, which would represent a year-over-year decline of 46.67%. Meanwhile, our latest consensus estimate is calling for revenue of $4.39 billion, down 15.58% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.11 per share and revenue of $17.9 billion. These totals would mark changes of -58.69% and -15.02%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.49% higher. United States Steel is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, United States Steel is currently trading at a Forward P/E ratio of 7.84. Its industry sports an average Forward P/E of 8.28, 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 industry currently has a Zacks Industry Rank of 110, which puts it in the top 44% 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.