Olympic Steel (ZEUS) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Olympic Steel (ZEUS) closed at $46.46, marking a -0.75% move from the previous day. This move lagged the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 2.93%.
Prior to today's trading, shares of the steel maker had gained 11.48% over the past month. This has outpaced the Basic Materials sector's gain of 5.33% and the S&P 500's gain of 4.22% in that time.
Olympic Steel will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.26, down 61.35% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $636.4 million, down 10.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.60 per share and revenue of $2.26 billion. These totals would mark changes of -53.67% and -11.66%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Olympic Steel. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Olympic Steel is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Olympic Steel is holding a Forward P/E ratio of 13. This valuation marks a premium compared to its industry's average Forward P/E of 8.49.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
