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United States Steel (X) Stock Moves -0.26%: What You Should Know

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United States Steel (X - Free Report) closed the most recent trading day at $23.20, moving -0.26% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.33%.

Prior to today's trading, shares of the steel maker had lost 9.85% over the past month. This has lagged the Basic Materials sector's loss of 0.72% and the S&P 500's gain of 2.89% in that time.

X will be looking to display strength as it nears its next earnings release. In that report, analysts expect X to post earnings of $2.80 per share. This would mark year-over-year growth of 204.87%. Our most recent consensus estimate is calling for quarterly revenue of $4.67 billion, up 123.35% from the year-ago period.

X's full-year Zacks Consensus Estimates are calling for earnings of $10.84 per share and revenue of $18.23 billion. These results would represent year-over-year changes of +332.12% and +87.14%, respectively.

Investors might also notice recent changes to analyst estimates for X. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 25.76% higher. X currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, X currently has a Forward P/E ratio of 2.14. This valuation marks a discount compared to its industry's average Forward P/E of 6.06.

Also, we should mention that X has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Producers was holding an average PEG ratio of 0.28 at yesterday's closing price.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% 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.

To follow X in the coming trading sessions, be sure to utilize Zacks.com.


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