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United States Steel (X) Dips More Than Broader Market: What You Should Know
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United States Steel (X - Free Report) closed the latest trading day at $48.40, indicating a -0.19% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Shares of the steel maker witnessed a gain of 34.17% over the previous month, beating the performance of the Basic Materials sector with its gain of 3.91% and the S&P 500's gain of 3.5%.
The investment community will be closely monitoring the performance of United States Steel in its forthcoming earnings report. The company is forecasted to report an EPS of $0.20, showcasing a 77.01% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.87 billion, down 10.69% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 7.43% higher. At present, United States Steel boasts a Zacks Rank of #1 (Strong Buy).
With respect to valuation, United States Steel is currently being traded at a Forward P/E ratio of 15.84. This signifies a premium in comparison to the average Forward P/E of 9.62 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 71, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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United States Steel (X) Dips More Than Broader Market: What You Should Know
United States Steel (X - Free Report) closed the latest trading day at $48.40, indicating a -0.19% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Shares of the steel maker witnessed a gain of 34.17% over the previous month, beating the performance of the Basic Materials sector with its gain of 3.91% and the S&P 500's gain of 3.5%.
The investment community will be closely monitoring the performance of United States Steel in its forthcoming earnings report. The company is forecasted to report an EPS of $0.20, showcasing a 77.01% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.87 billion, down 10.69% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 7.43% higher. At present, United States Steel boasts a Zacks Rank of #1 (Strong Buy).
With respect to valuation, United States Steel is currently being traded at a Forward P/E ratio of 15.84. This signifies a premium in comparison to the average Forward P/E of 9.62 for its industry.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 71, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.