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United States Steel (X) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, United States Steel (X - Free Report) closed at $39.66, marking a -0.97% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.14%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq gained 0.17%.
Coming into today, shares of the steel maker had lost 13.91% in the past month. In that same time, the Basic Materials sector gained 6.55%, while the S&P 500 gained 5.34%.
Market participants will be closely following the financial results of United States Steel in its upcoming release. The company is predicted to post an EPS of $0.81, indicating a 5.19% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.21 billion, indicating a 5.76% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.44 per share and revenue of $16.47 billion, indicating changes of -27.27% and -8.77%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for United States Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 10.42% decrease. United States Steel currently has a Zacks Rank of #3 (Hold).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 11.66. This denotes a premium relative to the industry's average Forward P/E of 11.27.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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United States Steel (X) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, United States Steel (X - Free Report) closed at $39.66, marking a -0.97% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.14%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq gained 0.17%.
Coming into today, shares of the steel maker had lost 13.91% in the past month. In that same time, the Basic Materials sector gained 6.55%, while the S&P 500 gained 5.34%.
Market participants will be closely following the financial results of United States Steel in its upcoming release. The company is predicted to post an EPS of $0.81, indicating a 5.19% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.21 billion, indicating a 5.76% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.44 per share and revenue of $16.47 billion, indicating changes of -27.27% and -8.77%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for United States Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 10.42% decrease. United States Steel currently has a Zacks Rank of #3 (Hold).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 11.66. This denotes a premium relative to the industry's average Forward P/E of 11.27.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.