Olympic Steel (ZEUS) Dips More Than Broader Markets: What You Should Know
Olympic Steel (ZEUS) closed at $48.10 in the latest trading session, marking a -1.9% move from the prior day. This change lagged the S&P 500's daily loss of 0.25%. Meanwhile, the Dow gained 0.24%, and the Nasdaq, a tech-heavy index, lost 1.88%.
Heading into today, shares of the steel maker had lost 10.48% over the past month, lagging the Basic Materials sector's loss of 2.72% and the S&P 500's gain of 1.48% in that time.
Investors will be hoping for strength from Olympic Steel as it approaches its next earnings release. In that report, analysts expect Olympic Steel to post earnings of $0.88 per share. This would mark a year-over-year decline of 71.61%. Meanwhile, our latest consensus estimate is calling for revenue of $596.6 million, down 14.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.50 per share and revenue of $2.35 billion. These totals would mark changes of -54.95% and -8.32%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Olympic Steel. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Olympic Steel is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Olympic Steel is holding a Forward P/E ratio of 14.03. This represents a premium compared to its industry's average Forward P/E of 8.86.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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
