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United States Steel (X) Outpaces Stock Market Gains: What You Should Know
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United States Steel (X - Free Report) closed the most recent trading day at $25.23, moving +0.76% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.
Coming into today, shares of the steel maker had lost 7.94% in the past month. In that same time, the Basic Materials sector lost 5.85%, while the S&P 500 lost 5.98%.
Wall Street will be looking for positivity from United States Steel as it approaches its next earnings report date. In that report, analysts expect United States Steel to post earnings of $0.57 per share. This would mark a year-over-year decline of 84.34%. Meanwhile, our latest consensus estimate is calling for revenue of $3.95 billion, down 29.69% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for United States Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.36% higher. United States Steel is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 23.94 right now. Its industry sports an average Forward P/E of 9.57, so we one might conclude that United States Steel is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.
To follow X in the coming trading sessions, be sure to utilize Zacks.com.
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United States Steel (X) Outpaces Stock Market Gains: What You Should Know
United States Steel (X - Free Report) closed the most recent trading day at $25.23, moving +0.76% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.
Coming into today, shares of the steel maker had lost 7.94% in the past month. In that same time, the Basic Materials sector lost 5.85%, while the S&P 500 lost 5.98%.
Wall Street will be looking for positivity from United States Steel as it approaches its next earnings report date. In that report, analysts expect United States Steel to post earnings of $0.57 per share. This would mark a year-over-year decline of 84.34%. Meanwhile, our latest consensus estimate is calling for revenue of $3.95 billion, down 29.69% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for United States Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.36% higher. United States Steel is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 23.94 right now. Its industry sports an average Forward P/E of 9.57, so we one might conclude that United States Steel is trading at a premium comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.
To follow X in the coming trading sessions, be sure to utilize Zacks.com.