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Is United States Steel Corporation Ready to Bounce? (NYSE:X)
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United States Steel Corporation (NYSE:X) NEWS ITEM [Trend Analysis] is near its bottom support level for the past 52 weeks. So what does this mean, is the stock ready to bounce? We look to see what analysts on the street think.
Analysis
United States Steel Corporation (NYSE:X) last traded at $24.69 after moving up 2.07% for the trading day. The company last released their quarterly earnings results on January 27 for the period ended Dec-14. The company reported earnings of $1.82 against a Zack’s research estimate of $0.88. This represents a 106.82% surprise on the expected result.
The current average broker recommendation for United States Steel Corporation, according to Zack’s research, is 2.58, based on 12 broker ratings. With 1 being a strong buy and 5 being a strong sell, this means that on a consensus basis, analysts currently see United States Steel Corporation as a hold. The 12 month target consensus price estimate among these analysts for United States Steel Corporation is currently at $30.90.
Out of the 12 broker recommendations for X, 5 recommend it as a strong buy, 0 as a buy, 4 as a hold 1 as a sell and 2 as a strong sell.
For the current quarter, the consensus analyst estimate for United States Steel Corporation (NYSE:X) is $0.31, with analysts expecting year on year growth for the company of -8.82%
About United States Steel Corporation (NYSE:X)
United States Steel manufactures and sells a variety of steel mill products, coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works, the Fairfield (Alabama) Works near Birmingham, the Mon Valley Works ( which includes the Edgar Thomson steelmaking and Irvin finishing operations) on the Monongahela River near Pittsburgh, and U. S. Steel Kosice in the Slovak Republic.