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United States Steel (X) Dips More Than Broader Markets: What You Should Know

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United States Steel (X - Free Report) closed the most recent trading day at $19.68, moving -0.86% from the previous trading session. This move lagged the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.12%.

Heading into today, shares of the steel maker had lost 17.46% over the past month, lagging the Basic Materials sector's loss of 6.82% and the S&P 500's loss of 10.24% in that time.

Investors will be hoping for strength from United States Steel as it approaches its next earnings release. In that report, analysts expect United States Steel to post earnings of $1.84 per share. This would mark a year-over-year decline of 65.67%. Meanwhile, our latest consensus estimate is calling for revenue of $5.03 billion, down 15.6% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.87 per share and revenue of $21.05 billion. These totals would mark changes of -26.78% and +3.81%, respectively, from last year.

Any recent changes to analyst estimates for United States Steel should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 0.5% lower. United States Steel is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 2.01 right now. This valuation marks a discount compared to its industry's average Forward P/E of 2.7.

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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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