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United States Steel (X) Stock Moves -0.56%: What You Should Know

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In the latest trading session, United States Steel (X - Free Report) closed at $31.84, marking a -0.56% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.26%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq lost 1.54%.

Heading into today, shares of the steel maker had gained 2.53% over the past month, outpacing the Basic Materials sector's loss of 6.86% and the S&P 500's loss of 3.67% in that time.

Market participants will be closely following the financial results of United States Steel in its upcoming release. The company plans to announce its earnings on October 26, 2023. The company is expected to report EPS of $1.15, down 41.03% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $4.39 billion, indicating a 15.58% decrease compared to the same quarter of the previous year.

X's full-year Zacks Consensus Estimates are calling for earnings of $4.22 per share and revenue of $17.9 billion. These results would represent year-over-year changes of -57.59% and -15.02%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for United States Steel. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% increase. United States Steel presently features a Zacks Rank of #3 (Hold).

Digging into valuation, United States Steel currently has a Forward P/E ratio of 7.58. This denotes a discount relative to the industry's average Forward P/E of 8.15.

The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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