We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
U.S. Steel (X) Sees Market Improvement to Support Q3 Results
Read MoreHide Full Article
United States Steel Corporation (X - Free Report) has issued its guidance for third-quarter 2020.
The company projects adjusted EBITDA to be a loss of around $100 million for the third quarter. Adjusted loss per share is forecast to be around $1.45.
The company is encouraged by the pace at which the market is improving. It expects Flat-rolled segment results to be negative in the third quarter but sequentially better than the second quarter. The company has responded to an improving order booking by restarting three blast furnaces, which it temporarily idled in response to the coronavirus pandemic. However, the company expects its two blast furnaces to remain temporarily idled throughout 2020 on the basis of current order activities.
The pace of market improvement in Europe has also exceeded the company’s expectations. U.S. Steel stated that market recovery has continued throughout the third quarter. Further, its order booking and lead times indicate that the pace of recovery is likely to continue. Moreover, actions to improve the cost profile are expected to get reflected in third-quarter financial performance, the company noted.
Per the company, market conditions in Tubular business seems to have bottomed-out but catalysts for improvement are limited. It expects third-quarter performance to be in-line with the second quarter.
Shares of U.S. Steel have lost 27.9% in the past year compared with the industry’s 5% decline.
Zacks Rank & Key Picks
U.S. Steel currently carries a Zacks Rank #3 (Hold).
Barrick has an expected earnings growth rate of 80.4% for 2020. The company’s shares have surged 51.2% in the past year.
Pretium Resources has an expected earnings growth rate of 20% for 2020. Its shares have returned 6.7% in the past year.
Maverix has an expected earnings growth rate of 33.3% for 2020. The company’s shares have gained 18.7% in the past year.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
U.S. Steel (X) Sees Market Improvement to Support Q3 Results
United States Steel Corporation (X - Free Report) has issued its guidance for third-quarter 2020.
The company projects adjusted EBITDA to be a loss of around $100 million for the third quarter. Adjusted loss per share is forecast to be around $1.45.
The company is encouraged by the pace at which the market is improving. It expects Flat-rolled segment results to be negative in the third quarter but sequentially better than the second quarter. The company has responded to an improving order booking by restarting three blast furnaces, which it temporarily idled in response to the coronavirus pandemic. However, the company expects its two blast furnaces to remain temporarily idled throughout 2020 on the basis of current order activities.
The pace of market improvement in Europe has also exceeded the company’s expectations. U.S. Steel stated that market recovery has continued throughout the third quarter. Further, its order booking and lead times indicate that the pace of recovery is likely to continue. Moreover, actions to improve the cost profile are expected to get reflected in third-quarter financial performance, the company noted.
Per the company, market conditions in Tubular business seems to have bottomed-out but catalysts for improvement are limited. It expects third-quarter performance to be in-line with the second quarter.
Shares of U.S. Steel have lost 27.9% in the past year compared with the industry’s 5% decline.
Zacks Rank & Key Picks
U.S. Steel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Barrick Gold Corporation (GOLD - Free Report) , Pretium Resources, Inc. and Maverix Metals Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Barrick has an expected earnings growth rate of 80.4% for 2020. The company’s shares have surged 51.2% in the past year.
Pretium Resources has an expected earnings growth rate of 20% for 2020. Its shares have returned 6.7% in the past year.
Maverix has an expected earnings growth rate of 33.3% for 2020. The company’s shares have gained 18.7% in the past year.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>