Olympic Steel (ZEUS) Stock Sinks As Market Gains: What You Should Know
Olympic Steel (ZEUS) closed at $45.99 in the latest trading session, marking a -0.48% move from the prior day. This change lagged the S&P 500's daily gain of 1.22%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 4.63%.
Prior to today's trading, shares of the steel maker had gained 8.7% over the past month. This has outpaced the Basic Materials sector's gain of 2.96% and the S&P 500's gain of 6.22% in that time.
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. Meanwhile, our latest consensus estimate is calling for revenue of $636.4 million, down 10.26% from the prior-year quarter.
ZEUS's full-year Zacks Consensus Estimates are calling for earnings of $3.60 per share and revenue of $2.26 billion. These results would represent year-over-year changes of -53.67% and -11.66%, respectively.
Any recent changes to analyst estimates for Olympic Steel should also be noted by investors. These revisions help to show the ever-changing nature of near-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.
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 remained stagnant within the past month. Olympic Steel is currently a Zacks Rank #3 (Hold).
Digging into valuation, Olympic Steel currently has a Forward P/E ratio of 12.84. This represents a premium compared to its industry's average Forward P/E of 8.38.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
