United States Steel (X) Dips More Than Broader Markets: What You Should Know
United States Steel (X) closed the most recent trading day at $20.14, moving -0.79% from the previous trading session. This change lagged the S&P 500's 0.72% loss on the day. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the steel maker had lost 14.24% in the past month. In that same time, the Basic Materials sector lost 6.49%, while the S&P 500 lost 9.06%.
Wall Street will be looking for positivity from United States Steel as it approaches its next earnings report date. The company is expected to report EPS of $1.89, down 64.74% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.03 billion, down 15.6% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.92 per share and revenue of $21.05 billion. These totals would mark changes of -26.41% and +3.81%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. United States Steel is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 2.05. This valuation marks a discount compared to its industry's average Forward P/E of 2.72.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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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