United States Steel (X) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest market close, United States Steel (X) reached $47.40, with a +0.13% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.8%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.14%.
The steel maker's stock has climbed by 1.52% in the past month, exceeding the Basic Materials sector's gain of 1.26% and lagging the S&P 500's gain of 5.2%.
Investors will be eagerly watching for the performance of United States Steel in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.93, showcasing a 20.78% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.24 billion, indicating a 5.08% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.76 per share and a revenue of $16.34 billion, indicating changes of -20.51% and -9.47%, respectively, from the former year.
Any recent changes to analyst estimates for United States Steel should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 20.27% higher. As of now, United States Steel holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, United States Steel currently has a Forward P/E ratio of 12.58. This expresses a premium compared to the average Forward P/E of 10.77 of its industry.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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United States Steel Corporation (X) : Free Stock Analysis Report
