U.S. markets closed
  • S&P 500

    4,594.62
    -106.84 (-2.27%)
     
  • Dow 30

    34,899.34
    -905.04 (-2.53%)
     
  • Nasdaq

    15,491.66
    -353.57 (-2.23%)
     
  • Russell 2000

    2,245.94
    -85.52 (-3.67%)
     
  • Crude Oil

    68.15
    -10.24 (-13.06%)
     
  • Gold

    1,788.10
    +1.20 (+0.07%)
     
  • Silver

    23.14
    -0.40 (-1.70%)
     
  • EUR/USD

    1.1322
    +0.0110 (+0.99%)
     
  • 10-Yr Bond

    1.4820
    -0.1630 (-9.91%)
     
  • GBP/USD

    1.3342
    +0.0022 (+0.16%)
     
  • USD/JPY

    113.2600
    -2.0790 (-1.80%)
     
  • BTC-USD

    54,772.87
    +372.04 (+0.68%)
     
  • CMC Crypto 200

    1,365.60
    -89.82 (-6.17%)
     
  • FTSE 100

    7,044.03
    -266.34 (-3.64%)
     
  • Nikkei 225

    28,751.62
    -747.66 (-2.53%)
     

United States Steel (X) Gains As Market Dips: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

United States Steel (X) closed the most recent trading day at $21.90, moving +0.83% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.3%.

Heading into today, shares of the steel maker had lost 17.16% over the past month, lagging the Basic Materials sector's loss of 6.73% and the S&P 500's loss of 3.58% in that time.

Investors will be hoping for strength from X as it approaches its next earnings release. On that day, X is projected to report earnings of $4.70 per share, which would represent year-over-year growth of 488.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.61 billion, up 139.57% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $13.57 per share and revenue of $19.68 billion, which would represent changes of +390.58% and +102.07%, respectively, from the prior year.

Any recent changes to analyst estimates for X should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.48% higher. X currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, X currently has a Forward P/E ratio of 1.6. For comparison, its industry has an average Forward P/E of 4.27, which means X is trading at a discount to the group.

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
United States Steel Corporation (X) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.