Recently, United States Steel (X) ended at $47.23, down 0.36%. The stock outperformed the S&P 500's 0.37% daily loss. Meanwhile, the Dow fell 0.62% and the tech-heavy Nasdaq fell 0.19%.
This morning, steelmaker shares had fallen 4.42% in the preceding month. The Basic Materials sector fell 2.68% while the S&P 500 rose 1.56%.
United States Steel's earnings announcement will intrigue investors. EPS is expected to drop 72.41% to $0.24 from the same period last year. In addition, our latest average estimate predicts sales of $3.78 billion, down 12.8% from last quarter.
The latest adjustments to US Steel analyst forecasts are also noteworthy. Recent changes reflect changing short-term business patterns. In light of this, positive estimate revisions indicate optimism about the company's business forecast.
Our research shows that estimate changes predict stock price performance. Our quantitative Zacks Rank rating system uses these estimate revisions to capitalize on this.
From #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank methodology has outperformed externally, with #1 stocks returning +25% annually since 1988. Our consensus EPS prediction rose 11.75% in 30 days. United States Steel is #1 (Strong Buy) on Zacks.
United States Steel has a Forward P/E of 15.08. This is above the industry average Forward P/E of 9.57. The Basic Materials category includes Steel-Producers. The Zacks Industry Rank of 102 places this industry in the top 41% of 250+ industries.
By evaluating the average Zacks Rank of individual companies within industry groupings, the Zacks Industry Rank measures their strength. Our analysis reveals that the top 50% of ranked sectors outperform the bottom half 2 to 1.