Olympic Steel Inc. (ZEUS Quick QuoteZEUS - Free Report) is a steel processor that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ZEUS’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Olympic Steel could be a solid choice for investors.

Current Quarter Estimates for ZEUS

In the past 30 days, 2 estimates have gone higher for Olympic Steel, while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 33 cents a share 30 days ago, to 41 cents per share today, a move of 24.2%.

Current Year Estimates for ZEUS

Meanwhile, Olympic Steel’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 63 cents per share 30 days ago to 88 cents per share today, an increase of 39.7%.

OLYMPIC STEEL Price and Consensus

OLYMPIC STEEL Price and Consensus | OLYMPIC STEEL Quote

Bottom Line

The stock has also started to move higher lately, adding 16.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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