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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 at $28.20 in the latest trading session, marking a -0.04% move from the prior day. This move lagged the S&P 500's daily gain of 1.19%. Elsewhere, the Dow gained 0.76%, while the tech-heavy Nasdaq added 0.29%.

Prior to today's trading, shares of the steel maker had gained 8.67% over the past month. This has lagged the Basic Materials sector's gain of 8.73% and outpaced the S&P 500's gain of 4.06% in that time.

Investors will be hoping for strength from United States Steel as it approaches its next earnings release, which is expected to be February 2, 2023. The company is expected to report EPS of $0.56, down 84.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.95 billion, down 29.69% from the year-ago period.

Any recent changes to analyst estimates for United States Steel should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 4.13% higher within the past month. United States Steel is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 25.8 right now. For comparison, its industry has an average Forward P/E of 9.99, which means United States Steel is trading at a premium to the group.

The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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