4 Stocks Soaring Higher On Biden's Infrastructure Plan

In December, X acquired the remaining equity of Big River Steel for approximately $774 million in cash. This acquisition will provide X with a unique value proposition: differentiated, high-performance, environmentally sustainable steel solutions.

On Dec. 24, X announced the strategic sale of its non-core real estate asset, the Keystone Industrial Port Complex (KIPC) in Pennsylvania, for approximately $160 million in cash. The proceeds from this transaction will further enhance X’s strong cash position and help it offer customers innovative steel products through environmentally sustainable and efficient mini mill processes.

X’s net sales have increased 15.9% sequentially to $2.34 billion in the third quarter (ended Sept. 30, 2020). Its adjusted EBITDA has improved 81.4% sequentially over the same period, while its adjusted EPS has improved 54.7% sequentially.

Analysts expect X’s revenues to grow 5.4% year-over-year to $2.90 billion in the current quarter ending March 31, 2021. The consensus EPS estimate of $0.42 for the current quarter indicates a 157.5% improvement year-over-year. The company has an impressive earnings surprise history; it beat the Street’s EPS estimates in each of the trailing four quarters. The stock has gained 209.6% over the past six months.

X is rated a “Buy” in our POWR Ratings system. It has an “A” for Trade Grade and Industry Rank, and a “B” for Buy & Hold Grade and Peer Grade. In 38-stock Steel Industry, it is ranked #18.

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