United States Steel (X) Dips More Than Broader Markets: What You Should Know
United States Steel (X) closed the most recent trading day at $28.11, moving -0.85% from the previous trading session. This move lagged the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq gained 1.39%.
Coming into today, shares of the steel maker had gained 14.82% in the past month. In that same time, the Basic Materials sector gained 9.71%, while the S&P 500 gained 4.01%.
Investors will be hoping for strength from United States Steel as it approaches its next earnings release. The company is expected to report EPS of $0.56, down 84.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.95 billion, down 29.69% from the year-ago period.
Investors might also notice recent changes to analyst estimates for United States Steel. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 6.15% higher. United States Steel is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, United States Steel currently has a Forward P/E ratio of 25.93. For comparison, its industry has an average Forward P/E of 10.31, which means United States Steel is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% 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.
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United States Steel Corporation (X) : Free Stock Analysis Report
