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Is Olympic Steel (ZEUS) Outperforming Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of Olympic Steel (ZEUS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Olympic Steel is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ZEUS's full-year earnings has moved 77.46% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ZEUS has gained about 148.01% so far this year. In comparison, Basic Materials companies have returned an average of 23.32%. As we can see, Olympic Steel is performing better than its sector in the calendar year.
Breaking things down more, ZEUS is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 48.34% this year, meaning that ZEUS is performing better in terms of year-to-date returns.
ZEUS will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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Is Olympic Steel (ZEUS) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Olympic Steel (ZEUS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Olympic Steel is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ZEUS's full-year earnings has moved 77.46% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ZEUS has gained about 148.01% so far this year. In comparison, Basic Materials companies have returned an average of 23.32%. As we can see, Olympic Steel is performing better than its sector in the calendar year.
Breaking things down more, ZEUS is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 48.34% this year, meaning that ZEUS is performing better in terms of year-to-date returns.
ZEUS will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.