United States Steel (X - Free Report) closed the most recent trading day at $19.45, moving +0.67% from the previous trading session. This change outpaced the S&P 500's 0.65% loss on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the steel maker had lost 19.27% over the past month, lagging the Basic Materials sector's loss of 8.56% and the S&P 500's loss of 11.07% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.92, down 64.18% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.83 billion, down 19.1% from the prior-year quarter.
X's full-year Zacks Consensus Estimates are calling for earnings of $9.86 per share and revenue of $20.6 billion. These results would represent year-over-year changes of -26.85% and +1.59%, respectively.
It is also important to note the recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.18% lower. United States Steel is currently a Zacks Rank #3 (Hold).
Investors should also note United States Steel's current valuation metrics, including its Forward P/E ratio of 1.96. Its industry sports an average Forward P/E of 2.89, 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 group has a Zacks Industry Rank of 192, putting it in the bottom 24% 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 - Free Report) closed the most recent trading day at $19.45, moving +0.67% from the previous trading session. This change outpaced the S&P 500's 0.65% loss on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the steel maker had lost 19.27% over the past month, lagging the Basic Materials sector's loss of 8.56% and the S&P 500's loss of 11.07% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.92, down 64.18% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.83 billion, down 19.1% from the prior-year quarter.
X's full-year Zacks Consensus Estimates are calling for earnings of $9.86 per share and revenue of $20.6 billion. These results would represent year-over-year changes of -26.85% and +1.59%, respectively.
It is also important to note the recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.18% lower. United States Steel is currently a Zacks Rank #3 (Hold).
Investors should also note United States Steel's current valuation metrics, including its Forward P/E ratio of 1.96. Its industry sports an average Forward P/E of 2.89, 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 group has a Zacks Industry Rank of 192, putting it in the bottom 24% 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.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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