Olympic Steel (ZEUS - Free Report) closed at $41.09 in the latest trading session, marking a -0.46% move from the prior day. This move lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, lost 3.22%.
Prior to today's trading, shares of the steel maker had gained 23.82% over the past month. This has outpaced the Basic Materials sector's gain of 8.15% and the S&P 500's gain of 4.64% 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $578.9 million, down 7.32% from the year-ago period.
Investors might also notice 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. 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. Over the past month, the Zacks Consensus EPS estimate 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 18.94. This represents a premium compared to its industry's average Forward P/E of 10.03.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Olympic Steel (ZEUS - Free Report) closed at $41.09 in the latest trading session, marking a -0.46% move from the prior day. This move lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, lost 3.22%.
Prior to today's trading, shares of the steel maker had gained 23.82% over the past month. This has outpaced the Basic Materials sector's gain of 8.15% and the S&P 500's gain of 4.64% 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $578.9 million, down 7.32% from the year-ago period.
Investors might also notice 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. 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. Over the past month, the Zacks Consensus EPS estimate 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 18.94. This represents a premium compared to its industry's average Forward P/E of 10.03.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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