United States Steel (X) ended the recent trading session at $40.05, demonstrating a +0.91% swing from the preceding day’s closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.68%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Prior to today’s trading, shares of the steel maker had lost 14.04% over the past month. This has lagged the Basic Materials sector’s gain of 6.63% and the S&P 500’s gain of 5.11% in that time.
The investment community will be closely monitoring the performance of United States Steel in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.81, marking a 5.19% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.21 billion, down 5.76% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.44 per share and a revenue of $16.47 billion, representing changes of -27.27% and -8.77%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United States Steel. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there’s been a 10.42% fall in the Zacks Consensus EPS estimate. United States Steel presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that United States Steel has a Forward P/E ratio of 11.55 right now. This represents a premium compared to its industry’s average Forward P/E of 10.78.
The Steel – Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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United States Steel Corporation (X) : Free Stock Analysis Report
