Olympic Steel (ZEUS) Gains As Market Dips: What You Should Know
In the latest trading session, Olympic Steel (ZEUS) closed at $24.51, marking a +1.83% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.55%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 2.01%.
Heading into today, shares of the steel maker had gained 28.24% over the past month, outpacing the Basic Materials sector's loss of 3.27% and the S&P 500's gain of 0.84% in that time.
ZEUS will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.19, up 5850% from the prior-year quarter.
Any recent changes to analyst estimates for ZEUS should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 150% higher within the past month. ZEUS is currently a Zacks Rank #1 (Strong Buy).
Investors should also note ZEUS's current valuation metrics, including its Forward P/E ratio of 8.75. Its industry sports an average Forward P/E of 8.75, so we one might conclude that ZEUS is trading at a no noticeable deviation comparatively.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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.
To follow ZEUS in the coming trading sessions, be sure to utilize Zacks.com.
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Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
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