Olympic Steel (ZEUS) Stock Moves -0.15%: What You Should Know
In the latest trading session, Olympic Steel (ZEUS) closed at $47.90, marking a -0.15% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Coming into today, shares of the steel maker had lost 0.99% in the past month. In that same time, the Basic Materials sector gained 1.43%, while the S&P 500 gained 4.16%.
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. Our most recent consensus estimate is calling for quarterly revenue of $636.4 million, down 10.26% from the year-ago period.
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.
Any recent changes to analyst estimates for Olympic Steel should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Olympic Steel is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Olympic Steel is holding a Forward P/E ratio of 13.32. For comparison, its industry has an average Forward P/E of 8.54, which means Olympic Steel is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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
