United States Steel (X) closed the most recent trading day at $27.04, moving +1.96% from the previous trading session. This change outpaced the S&P 500's 0.12% loss on the day. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.05%.
Prior to today's trading, shares of the steel maker had gained 39.87% over the past month. This has outpaced the Basic Materials sector's gain of 13.61% and the S&P 500's gain of 5.93% in that time.
Wall Street will be looking for positivity from United States Steel as it approaches its next earnings report date. In that report, analysts expect United States Steel to post earnings of $0.59 per share. This would mark a year-over-year decline of 83.79%. Our most recent consensus estimate is calling for quarterly revenue of $4.21 billion, down 25.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.28 per share and revenue of $20.93 billion. These totals would mark changes of -31.16% and +3.23%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for United States Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 1.69% lower. United States Steel is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, United States Steel is holding a Forward P/E ratio of 2.86. This represents a discount compared to its industry's average Forward P/E of 3.89.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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