A better buy-in window may exist right now for United States Steel Corporation (X)

United States Steel Corporation (NYSE: X) stock fell -3.40% on Friday to $22.99 against a previous-day closing price of $23.80. With 9.21 million shares changed hands, the volume of the stock remained lighter than its average volume of 13.37 million shares. During the session, the Steel company that operates in wider Basic Materials sector, reached to the highest price of $23.57 whereas the lowest price it dropped to was $22.80. The 52-week range on X shows that it touched its highest point at $39.25 and its lowest point at $16.41 during that stretch. It currently has a 1-year price target of $26.33. With its current market cap of 5.38 billion, X has annualized dividend of $0.20 while the current yield stands at 0.87%. Beta for the stock currently stands at 2.12.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of X was up-trending over the past week, with a rise of 12.70%, but this was up by 28.36% over a month. Three-month performance dropped to -22.88% while six-month performance rose 10.96%. The stock lost -8.30% in the past year, while it has lost -3.44% so far this year. A look at the trailing 12-month EPS for X yields 17.14 with Next year EPS estimates of 2.98. For the next quarter, that number is 2.35. This implies an EPS growth rate of 351.30% for this year and -71.58% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 48.80%.

Float and Shares Shorts:

At present, 261.45 million X shares are outstanding with a float of 256.28 million shares on hand for trading. On Jul 14, 2022, short shares totaled 39.18 million, which was 15.03% higher than short shares on Jun 14, 2022. In addition to Mr. David Boyd Burritt as the firm’s Pres, CEO & Director, Ms. Christine S. Breves C.P.M. serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 77.98% of X’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.88% of X, in contrast to 33.19% held by mutual funds. Shares owned by individuals account for 2.34%. As the largest shareholder in X with 8.53% of the stake, The Vanguard Group, Inc. holds 22,234,826 shares worth 22,234,826. A second-largest stockholder of X, BlackRock Fund Advisors, holds 20,514,188 shares, controlling over 7.87% of the firm’s shares. Soroban Capital Partners LP is the third largest shareholder in X, holding 11,683,862 shares or 4.48% stake. With a 2.88% stake in X, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 7,510,788 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.65% of X stock, is the second-largest Mutual Fund holder. It holds 6,904,544 shares valued at 123.66 million. Vanguard Small Cap Index Fund holds 2.28% of the stake in X, owning 5,930,800 shares worth 106.22 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for X since 12 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With X analysts setting a high price target of $44.00 and a low target of $20.00, the average target price over the next 12 months is $25.16. Based on these targets, X could surge 91.39% to reach the target high and fall by -13.01% to reach the target low. Reaching the average price target will result in a growth of 9.44% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. X will report FY 2022 earnings on 01/26/2023. Analysts have provided yearly estimates in a range of $11.50 being high and $9.47 being low. For X, this leads to a yearly average estimate of $10.29. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. United States Steel Corporation surprised analysts by $0.21 when it reported $3.86 EPS against a consensus estimate of $3.65. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is $2.85 and the low estimate is $1.61. The average estimate for the next quarter is thus $2.21.

Summary of Insider Activity:

Insiders traded X stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 45 while that of sell transactions has risen to 58 over the past year. The total number of shares bought during that period was 788,696 while 781,555 shares were sold.

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