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United States Steel (X) Outpaces Stock Market Gains: What You Should Know
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United States Steel (X - Free Report) closed at $24.63 in the latest trading session, marking a +1.61% move from the prior day. This change outpaced the S&P 500's 0.67% gain on the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the steel maker had gained 7.64% over the past month. This has outpaced the Basic Materials sector's gain of 0.52% and the S&P 500's gain of 2.65% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.85, down 52.07% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.95 billion, down 21.33% from the year-ago period.
X's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $17.91 billion. These results would represent year-over-year changes of -57.49% and -14.99%, respectively.
Any recent changes to analyst estimates for United States Steel should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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. The Zacks Consensus EPS estimate has moved 1.49% higher within the past month. United States Steel is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, United States Steel is currently trading at a Forward P/E ratio of 5.73. This valuation marks a discount compared to its industry's average Forward P/E of 8.91.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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) Outpaces Stock Market Gains: What You Should Know
United States Steel (X - Free Report) closed at $24.63 in the latest trading session, marking a +1.61% move from the prior day. This change outpaced the S&P 500's 0.67% gain on the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Prior to today's trading, shares of the steel maker had gained 7.64% over the past month. This has outpaced the Basic Materials sector's gain of 0.52% and the S&P 500's gain of 2.65% in that time.
United States Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.85, down 52.07% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.95 billion, down 21.33% from the year-ago period.
X's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $17.91 billion. These results would represent year-over-year changes of -57.49% and -14.99%, respectively.
Any recent changes to analyst estimates for United States Steel should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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. The Zacks Consensus EPS estimate has moved 1.49% higher within the past month. United States Steel is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, United States Steel is currently trading at a Forward P/E ratio of 5.73. This valuation marks a discount compared to its industry's average Forward P/E of 8.91.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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.