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United States Steel (X) Stock Sinks As Market Gains: What You Should Know
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United States Steel (X - Free Report) closed the most recent trading day at $22.73, moving -1.35% from the previous trading session. This change lagged the S&P 500's 0.96% gain on the day. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the steel maker had lost 13.45% over the past month, lagging the Basic Materials sector's loss of 1.73% and the S&P 500's loss of 0.21% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. In that report, analysts expect United States Steel to post earnings of $5.31 per share. This would mark year-over-year growth of 2066.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.78 billion, up 125.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.08 per share and revenue of $20.4 billion, which would represent changes of +422.91% and +109.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.01% higher. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 1.53 right now. Its industry sports an average Forward P/E of 3.71, 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 industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Sinks As Market Gains: What You Should Know
United States Steel (X - Free Report) closed the most recent trading day at $22.73, moving -1.35% from the previous trading session. This change lagged the S&P 500's 0.96% gain on the day. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the steel maker had lost 13.45% over the past month, lagging the Basic Materials sector's loss of 1.73% and the S&P 500's loss of 0.21% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. In that report, analysts expect United States Steel to post earnings of $5.31 per share. This would mark year-over-year growth of 2066.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.78 billion, up 125.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.08 per share and revenue of $20.4 billion, which would represent changes of +422.91% and +109.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.01% higher. United States Steel is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 1.53 right now. Its industry sports an average Forward P/E of 3.71, 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 industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.