United States Steel (X) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, United States Steel (X) closed at $25, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the steel maker had lost 11.24% over the past month, lagging the Basic Materials sector's loss of 3.26% and the S&P 500's loss of 1.21% 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 $0.33 per share. This would mark a year-over-year decline of 89.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.1 billion, down 21.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.64 per share and revenue of $16.7 billion. These totals would mark changes of -73.47% and -20.7%, respectively, from last year.
Investors might also notice 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. 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 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 77.79% higher. United States Steel currently has a Zacks Rank of #2 (Buy).
In terms of valuation, United States Steel is currently trading at a Forward P/E ratio of 9.56. This represents a premium compared to its industry's average Forward P/E of 9.26.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% 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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United States Steel Corporation (X) : Free Stock Analysis Report
