In the latest trading session, United States Steel closed at $24.69, marking a -1.24% move from the previous day. This change lagged the S&P 500's daily loss of 0.9%. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Prior to today's trading, shares of the steel maker had gained 6.07% over the past month. This has outpaced the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% in that time.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release. On that day, United States Steel is projected to report earnings of $0.47 per share, which would represent a year-over-year decline of 87.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, down 25.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.28 per share and revenue of $20.93 billion, which would represent changes of -31.16% and +3.23%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for United States Steel. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 0.13% lower within the past month. United States Steel is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 2.69. 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 68, which puts it in the top 27% 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.
To follow X in the coming trading sessions, be sure to utilize Zacks.com.
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United States Steel (X) Dips More Than Broader Markets: What You Should Know
In the latest trading session, United States Steel closed at $24.69, marking a -1.24% move from the previous day. This change lagged the S&P 500's daily loss of 0.9%. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.26%.
Prior to today's trading, shares of the steel maker had gained 6.07% over the past month. This has outpaced the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% in that time.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release. On that day, United States Steel is projected to report earnings of $0.47 per share, which would represent a year-over-year decline of 87.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, down 25.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.28 per share and revenue of $20.93 billion, which would represent changes of -31.16% and +3.23%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for United States Steel. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 0.13% lower within the past month. United States Steel is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 2.69. 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 68, which puts it in the top 27% 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.
To follow X in the coming trading sessions, be sure to utilize Zacks.com.