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United States Steel (X) Falls More Steeply Than Broader Market: What Investors Need to Know
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United States Steel (X - Free Report) ended the recent trading session at $47.96, demonstrating a -1.42% swing from the preceding day's closing price. This change lagged the S&P 500's 0.57% loss on the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 1.64%.
The steel maker's shares have seen an increase of 33.18% over the last month, surpassing the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 4%.
Market participants will be closely following the financial results of United States Steel in its upcoming release. The company is forecasted to report an EPS of $0.20, showcasing a 77.01% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $3.87 billion, indicating a 10.69% decline compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for United States Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.35% higher. United States Steel currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 15.89. For comparison, its industry has an average Forward P/E of 9.78, which means United States Steel is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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United States Steel (X) Falls More Steeply Than Broader Market: What Investors Need to Know
United States Steel (X - Free Report) ended the recent trading session at $47.96, demonstrating a -1.42% swing from the preceding day's closing price. This change lagged the S&P 500's 0.57% loss on the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 1.64%.
The steel maker's shares have seen an increase of 33.18% over the last month, surpassing the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 4%.
Market participants will be closely following the financial results of United States Steel in its upcoming release. The company is forecasted to report an EPS of $0.20, showcasing a 77.01% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $3.87 billion, indicating a 10.69% decline compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for United States Steel. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.35% higher. United States Steel currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 15.89. For comparison, its industry has an average Forward P/E of 9.78, which means United States Steel is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.