United States Steel Corp. (NYSE:X) shares, rose in value, with the stock price down by -12.77% to the previous day’s close as strong demand from buyers drove the stock to $40.86.
Actively observing the price movement in the last trading, the stock closed the session at $46.84. The value of beta (5-year monthly) was 2.03 whereas the PE ratio was 11.73 over 12-month period. Referring to stock’s 52-week performance, its high was $50.20, and the low was $20.40. On the whole, X has fluctuated by -10.61% over the past month.
With the market capitalization of United States Steel Corp. currently standing at about $9.14 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 0.20, with its dividend yield at 0.49%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.84, which is expected to increase to $1.68 for fiscal year $3.44 and then to about $3.51 by fiscal year 2025. Data indicates that the EPS growth is expected to be -27.30% in 2025, while the next year’s EPS growth is forecast to be 2.00%.
Analysts have estimated the company’s revenue for the quarter at $4.19 billion, with a low estimate of $3.73 billion and a high estimate of $4.5 billion. According to the average forecast, sales growth in current quarter could jump down -1.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $16.58 billion, representing a decrease of -8.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that X’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.47, with the price of X currently trading nearly -12.84% and -13.47% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 19.00, while the 7-day volatility ratio is showing 4.69% which for the 30-day chart, stands at 2.11%. Furthermore, United States Steel Corp. (X)’s beta value is 2.03, and its average true range (ATR) is 1.12.
A comparison of United States Steel Corp. (X) with its peers suggests the former has fared considerably weaker in the market. X showed an intraday change of -12.77% in last session, and over the past year, it grew by 52.46%%.
Data on historical trading for United States Steel Corp. (NYSE:X) indicates that the trading volumes over the past 10 days have averaged 6.04 million and over the past 3 months, they’ve averaged 6.48 million. According to company’s latest data on outstanding shares, there are 223.67 million shares outstanding.
Nearly 1.55% of United States Steel Corp.’s shares belong to company insiders and institutional investors own 83.18% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.96 million shares as on Feb 29, 2024, resulting in a short ratio of 4.8. According to the data, the short interest in United States Steel Corp. (X) stood at 8.47% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 19.94 million. The stock has fallen by -16.01% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the X stock heading into the next quarter.
