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United States Steel (X) Gains As Market Dips: What You Should Know
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United States Steel (X - Free Report) closed at $23.49 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.11%.
Coming into today, shares of the steel maker had lost 2.12% in the past month. In that same time, the Basic Materials sector lost 4.58%, while the S&P 500 gained 2.23%.
Wall Street will be looking for positivity from X as it approaches its next earnings report date. In that report, analysts expect X to post earnings of $2.74 per share. This would mark year-over-year growth of 202.62%. Our most recent consensus estimate is calling for quarterly revenue of $4.66 billion, up 122.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.58 per share and revenue of $17.56 billion. These totals would mark changes of +305.14% and +80.29%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for X. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 39.85% higher within the past month. X is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, X is currently trading at a Forward P/E ratio of 2.41. Its industry sports an average Forward P/E of 6.44, so we one might conclude that X is trading at a discount comparatively.
It is also worth noting that X currently has a PEG ratio of 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% 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
United States Steel (X - Free Report) closed at $23.49 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.11%.
Coming into today, shares of the steel maker had lost 2.12% in the past month. In that same time, the Basic Materials sector lost 4.58%, while the S&P 500 gained 2.23%.
Wall Street will be looking for positivity from X as it approaches its next earnings report date. In that report, analysts expect X to post earnings of $2.74 per share. This would mark year-over-year growth of 202.62%. Our most recent consensus estimate is calling for quarterly revenue of $4.66 billion, up 122.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.58 per share and revenue of $17.56 billion. These totals would mark changes of +305.14% and +80.29%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for X. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 39.85% higher within the past month. X is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, X is currently trading at a Forward P/E ratio of 2.41. Its industry sports an average Forward P/E of 6.44, so we one might conclude that X is trading at a discount comparatively.
It is also worth noting that X currently has a PEG ratio of 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% 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.