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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 $26.06, marking a +0.39% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the steel maker had gained 1.88% in the past month. In that same time, the Basic Materials sector lost 1.25%, while the S&P 500 lost 4.4%.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.57, down 84.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.95 billion, down 29.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.33 per share and revenue of $20.72 billion. These totals would mark changes of -30.79% and +2.21%, respectively, from last year.
Any recent changes to analyst estimates for United States Steel should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.69% 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 2.78. Its industry sports an average Forward P/E of 3.66, 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 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 $26.06, marking a +0.39% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the steel maker had gained 1.88% in the past month. In that same time, the Basic Materials sector lost 1.25%, while the S&P 500 lost 4.4%.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.57, down 84.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.95 billion, down 29.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.33 per share and revenue of $20.72 billion. These totals would mark changes of -30.79% and +2.21%, respectively, from last year.
Any recent changes to analyst estimates for United States Steel should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.69% 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 2.78. Its industry sports an average Forward P/E of 3.66, 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 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.