Olympic Steel (ZEUS) Stock Moves -0.19%: What You Should Know
In the latest trading session, Olympic Steel (ZEUS) closed at $46.45, marking a -0.19% move from the previous day. This change was narrower than the S&P 500's 0.53% loss on the day.
Heading into today, shares of the steel maker had gained 4.12% over the past month, outpacing the Basic Materials sector's gain of 1.55% and lagging the S&P 500's gain of 4.86% in that time.
Wall Street will be looking for positivity from Olympic Steel as it approaches its next earnings report date. On that day, Olympic Steel is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 61.35%. 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 recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Olympic Steel is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Olympic Steel currently has a Forward P/E ratio of 12.93. This valuation marks a premium compared to its industry's average Forward P/E of 8.42.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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
