Olympic Steel (ZEUS) closed the most recent trading day at $35.12, moving +1.3% from the previous trading session. This change outpaced the S&P 500's 0.2% gain on the day.
Heading into today, shares of the steel maker had gained 4.62% over the past month, outpacing the Basic Materials sector's loss of 2.1% and the S&P 500's gain of 1.06% in that time.
ZEUS will be looking to display strength as it nears its next earnings release. On that day, ZEUS is projected to report earnings of $1.37 per share, which would represent year-over-year growth of 460.53%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $516.4 million, up 107.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.88 per share and revenue of $2.01 billion. These totals would mark changes of +1418.92% and +62.96%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ZEUS. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 48.78% higher. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, ZEUS is holding a Forward P/E ratio of 7.1. This represents a no noticeable deviation compared to its industry's average Forward P/E of 7.1.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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