United States Steel Corporation (NYSE:X) is experiencing a surge in its stock price today, as the company provides guidance for the third quarter of 2023. This guidance takes into account the impact of the ongoing United Autoworkers Union strike on the company’s financial results. The company has projected earnings per share between $1.10 and $1.15, with an estimated adjusted EBITDA of approximately $550 million.
Over the past three months, the stock has seen a remarkable increase of 34.79%. This surge was particularly notable in mid-August, following the company’s rejection of an acquisition offer from Cleveland-Cliffs. As of September 19, 2023, the shares of X have risen by 3.31% and are currently valued at $31.54.
Analysts have provided a consensus price target of $29.29 for United States Steel, indicating a potential upside of 28.0% from its current price of $22.88. This suggests that the stock still has room for growth and presents an attractive investment opportunity.
United States Steel Corporation
X
Buy
Updated on: 29/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Neutral
DCF: Strong Buy
ROE: Neutral
Analyzing the Performance and Outlook of X Stock from Commercial Metals Co on September 19, 2023
On September 19, 2023, X stock, belonging to Commercial Metals Co, performed moderately with a slight decline. Let’s dive into the details of its performance and analyze the factors that influenced it.
X stock had a previous close of $30.53 on the day before. The stock opened at $30.98 and had a day’s range of $30.91 to $31.84. The trading volume for the day was 12,168,594 shares, which is higher than the average volume of 8,967,789 shares over the past three months. This indicates an increased interest in the stock.
X stock has a market capitalization of $6.8 billion, which places it in the mid-cap range. The company’s earnings growth has been negative in recent years, with a decline of 35.20% last year and a further decrease of 58.64% this year. The outlook for the next five years also indicates a negative earnings growth rate of 24.14%. These figures suggest that the company has been facing challenges in generating profits and may continue to do so in the near future.
However, it’s worth noting that X stock did experience a positive revenue growth of 3.12% in the last year. This indicates that despite the decline in earnings, the company has managed to increase its top-line revenue. This growth may be attributed to factors such as increased demand for steel or effective cost management.
Looking at the valuation metrics, X stock has a relatively low P/E ratio of 5.9, which suggests that the stock is undervalued compared to its earnings. The price/sales ratio stands at 0.33, indicating that investors are paying $0.33 for every dollar of sales generated by the company. The price/book ratio of 0.69 suggests that the stock is trading below its book value.
On September 19, 2023, X stock experienced a slight decline of $0.08, representing a percentage change of -0.15%. This decline is in line with the negative performance of other steel industry stocks such as Gerdau SA, which saw a decrease of $0.11 or 2.14% on the same day. Ternium SA, another player in the steel industry, also experienced a decline of $0.60 or 1.49%.
Looking ahead, X stock’s next reporting date is scheduled for October 26, 2023. Analysts are forecasting an EPS of $1.17 for the current quarter. In the previous year, the company recorded an annual revenue of $21.1 billion and a profit of $2.5 billion, resulting in a net profit margin of 11.97%.
X stock belongs to the Non-Energy Minerals sector, specifically the steel industry. The company is headquartered in Pittsburgh, Pennsylvania.
In conclusion, X stock had a relatively modest performance on September 19, 2023, with a slight decline. The stock’s negative earnings growth in recent years and the next five-year forecast indicate challenges for the company. However, the positive revenue growth and low valuation ratios suggest that there may be potential for improvement in the future. Investors should closely monitor the upcoming earnings report to gain a better understanding of the company’s financial health and prospects.
United States Steel Corp (X) Stock Analysis: Median Target Price Indicates -21.06% Decrease, Hold Rating Suggests Neutral Stance
On September 19, 2023, the stock performance of United States Steel Corp (X) was analyzed based on data provided by CNN Money. The 12-month price forecasts from six analysts indicated a median target of $25.00, with a high estimate of $26.00 and a low estimate of $14.36. This median estimate represented a -21.06% decrease from the last recorded price of $31.67. According to the data, the current consensus among nine polled investment analysts was to hold stock in United States Steel Corp. This rating had remained steady since September, indicating that it was unchanged from a hold rating. In terms of financial performance, United States Steel Corp reported earnings per share of $1.17 for the current quarter, with sales amounting to $4.6 billion. The reporting date for these figures was set for October 26. The median target price of $25.00 suggested a decrease in value for United States Steel Corp’s stock. This could be influenced by various factors such as market conditions, industry trends, and company-specific developments. Investors should carefully consider these forecasts and conduct their own research before making any investment decisions. The hold rating from investment analysts indicated a neutral stance on the stock. It suggested that there was no strong indication to either buy or sell shares of United States Steel Corp at the time. Investors should consider their own risk tolerance and investment goals before deciding whether to hold or sell their positions. The upcoming reporting date of October 26 for the current quarter’s financial results could provide further insights into the company’s performance. Investors should pay attention to these figures, as they can impact the stock’s price and future forecasts. In conclusion, on September 19, 2023, United States Steel Corp’s stock performance was analyzed based on the median target price forecast of $25.00, indicating a -21.06% decrease from the last recorded price. The hold rating from investment analysts suggested a neutral stance on the stock. Investors should closely monitor the upcoming financial results on October 26 for further insights into the company’s performance.
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