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Olympic Steel (ZEUS) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Olympic Steel (ZEUS - Free Report) closed at $33.58, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.25% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Prior to today's trading, shares of the steel maker had lost 2.06% over the past month. This has lagged the Basic Materials sector's loss of 1.02% and was narrower than the S&P 500's loss of 2.59% in that time.
Wall Street will be looking for positivity from Olympic Steel as it approaches its next earnings report date. The company is expected to report EPS of $0.21, down 92.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $553.95 million, down 11.31% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.67 per share and revenue of $2.62 billion. These totals would mark changes of -34.39% and +13.12%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Olympic Steel. These revisions help to show the ever-changing nature of near-term business trends. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Olympic Steel is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Olympic Steel is holding a Forward P/E ratio of 4.4. This represents a premium compared to its industry's average Forward P/E of 3.65.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
To follow ZEUS in the coming trading sessions, be sure to utilize Zacks.com.
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Olympic Steel (ZEUS) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Olympic Steel (ZEUS - Free Report) closed at $33.58, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.25% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 5.91%.
Prior to today's trading, shares of the steel maker had lost 2.06% over the past month. This has lagged the Basic Materials sector's loss of 1.02% and was narrower than the S&P 500's loss of 2.59% in that time.
Wall Street will be looking for positivity from Olympic Steel as it approaches its next earnings report date. The company is expected to report EPS of $0.21, down 92.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $553.95 million, down 11.31% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.67 per share and revenue of $2.62 billion. These totals would mark changes of -34.39% and +13.12%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Olympic Steel. These revisions help to show the ever-changing nature of near-term business trends. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Olympic Steel is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Olympic Steel is holding a Forward P/E ratio of 4.4. This represents a premium compared to its industry's average Forward P/E of 3.65.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
To follow ZEUS in the coming trading sessions, be sure to utilize Zacks.com.