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United States Steel (X) Stock Sinks As Market Gains: Here's Why
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In the latest market close, United States Steel (X - Free Report) reached $40.78, with a -0.59% movement compared to the previous day. This change lagged the S&P 500's 0.11% gain on the day. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.12%.
Heading into today, shares of the steel maker had lost 13.66% over the past month, lagging the Basic Materials sector's gain of 6.68% and the S&P 500's gain of 3.55% in that time.
The investment community will be paying close attention to the earnings performance of United States Steel in its upcoming release. The company is predicted to post an EPS of $0.82, indicating a 6.49% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.21 billion, indicating a 5.83% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.47 per share and revenue of $16.47 billion, which would represent changes of -26.64% and -8.79%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United States Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 9.25% fall in the Zacks Consensus EPS estimate. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, United States Steel is currently exchanging hands at a Forward P/E ratio of 11.82. This represents a premium compared to its industry's average Forward P/E of 11.16.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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United States Steel (X) Stock Sinks As Market Gains: Here's Why
In the latest market close, United States Steel (X - Free Report) reached $40.78, with a -0.59% movement compared to the previous day. This change lagged the S&P 500's 0.11% gain on the day. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.12%.
Heading into today, shares of the steel maker had lost 13.66% over the past month, lagging the Basic Materials sector's gain of 6.68% and the S&P 500's gain of 3.55% in that time.
The investment community will be paying close attention to the earnings performance of United States Steel in its upcoming release. The company is predicted to post an EPS of $0.82, indicating a 6.49% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.21 billion, indicating a 5.83% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.47 per share and revenue of $16.47 billion, which would represent changes of -26.64% and -8.79%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United States Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 9.25% fall in the Zacks Consensus EPS estimate. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, United States Steel is currently exchanging hands at a Forward P/E ratio of 11.82. This represents a premium compared to its industry's average Forward P/E of 11.16.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.