United States Steel Corporation (NYSE: X) Hits Fresh High

United States Steel (NYSE: X) Shares have been on the move with the stock up 5.9% over the past month. The stock hit a new 52-week high of $36.64 in the previous session. United States Steel has gained 45.8% since the start of the year compared to the 7% move for the Zacks Basic Materials sector and the 28% return for the Zacks Steel - Producers industry.

What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on October 26, 2023, U.S. Steel reported EPS of $1.4 versus consensus estimate of $1.15.

For the current fiscal year, U.S. Steel is expected to post earnings of $4.33 per share on $17.83 billion in revenues. This represents a -56.48% change in EPS on a -15.37% change in revenues. For the next fiscal year, the company is expected to earn $2.88 per share on $16.2 billion in revenues. This represents a year-over-year change of -33.32% and -9.13%, respectively.

Price Momentum
United States Steel Corporation (NYSE:X) is trading near the top of its 52-week range and above its 200-day simple moving average.

Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.