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Here's Why United States Steel (X) Gained But Lagged the Market Today
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United States Steel (X - Free Report) closed at $33.07 in the latest trading session, marking a +0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.87%, while the tech-heavy Nasdaq added 1.6%.
The the stock of steel maker has risen by 7.07% in the past month, leading the Basic Materials sector's loss of 6.48% and the S&P 500's loss of 5.17%.
The investment community will be paying close attention to the earnings performance of United States Steel in its upcoming release. The company is forecasted to report an EPS of $1.04, showcasing a 46.67% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $4.39 billion, indicating a 15.58% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.11 per share and revenue of $17.9 billion, which would represent changes of -58.69% and -15.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for United States Steel. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.94% higher. United States Steel presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 8.02. This represents a discount compared to its industry's average Forward P/E of 8.37.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why United States Steel (X) Gained But Lagged the Market Today
United States Steel (X - Free Report) closed at $33.07 in the latest trading session, marking a +0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.87%, while the tech-heavy Nasdaq added 1.6%.
The the stock of steel maker has risen by 7.07% in the past month, leading the Basic Materials sector's loss of 6.48% and the S&P 500's loss of 5.17%.
The investment community will be paying close attention to the earnings performance of United States Steel in its upcoming release. The company is forecasted to report an EPS of $1.04, showcasing a 46.67% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $4.39 billion, indicating a 15.58% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.11 per share and revenue of $17.9 billion, which would represent changes of -58.69% and -15.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for United States Steel. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.94% higher. United States Steel presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 8.02. This represents a discount compared to its industry's average Forward P/E of 8.37.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.