United States Steel (X - Free Report) closed at $13.33 in the latest trading session, marking a -0.07% move from the prior day. This change lagged the S&P 500's daily gain of 0.15%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.05%.
Coming into today, shares of the steel maker had gained 3.89% in the past month. In that same time, the Basic Materials sector lost 0.82%, while the S&P 500 gained 1.32%.
Wall Street will be looking for positivity from X as it approaches its next earnings report date. The company is expected to report EPS of -$0.65, down 135.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.75 billion, down 25.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.07 per share and revenue of $12.86 billion, which would represent changes of -98.69% and -9.28%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for X. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 30.3% higher. X currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, X is holding a Forward P/E ratio of 186.14. Its industry sports an average Forward P/E of 12.64, so we one might conclude that X is trading at a premium comparatively.
It is also worth noting that X currently has a PEG ratio of 23.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Steel - Producers industry currently had an average PEG ratio of 1.76 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% 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.