We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Olympic Steel (ZEUS) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, Olympic Steel (ZEUS - Free Report) closed at $23.50, marking a +1.51% move from the previous day. This move outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the steel maker had gained 8.63% over the past month. This has outpaced the Basic Materials sector's gain of 6.01% and the S&P 500's gain of 4.82% in that time.
Olympic Steel will be looking to display strength as it nears its next earnings release. On that day, Olympic Steel is projected to report earnings of $2.17 per share, which would represent year-over-year growth of 1450%. Our most recent consensus estimate is calling for quarterly revenue of $595.4 million, up 79.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.53 per share and revenue of $2.27 billion. These totals would mark changes of +2945.95% and +83.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Olympic Steel. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Olympic Steel is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Olympic Steel has a Forward P/E ratio of 2.2 right now. For comparison, its industry has an average Forward P/E of 3.81, which means Olympic Steel is trading at a discount to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Olympic Steel (ZEUS) Gains As Market Dips: What You Should Know
In the latest trading session, Olympic Steel (ZEUS - Free Report) closed at $23.50, marking a +1.51% move from the previous day. This move outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the steel maker had gained 8.63% over the past month. This has outpaced the Basic Materials sector's gain of 6.01% and the S&P 500's gain of 4.82% in that time.
Olympic Steel will be looking to display strength as it nears its next earnings release. On that day, Olympic Steel is projected to report earnings of $2.17 per share, which would represent year-over-year growth of 1450%. Our most recent consensus estimate is calling for quarterly revenue of $595.4 million, up 79.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.53 per share and revenue of $2.27 billion. These totals would mark changes of +2945.95% and +83.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Olympic Steel. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Olympic Steel is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Olympic Steel has a Forward P/E ratio of 2.2 right now. For comparison, its industry has an average Forward P/E of 3.81, which means Olympic Steel is trading at a discount to the group.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.