Yahoo Finance Olympic Steel (ZEUS) Dips More Than Broader Markets: What You Should Know
Olympic Steel (ZEUS) closed at $52.14 in the latest trading session, marking a -0.5% move from the prior day. This move lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the steel maker had gained 9.08% over the past month. This has outpaced the Basic Materials sector's gain of 5.98% and the S&P 500's gain of 7.71% in that time.
Wall Street will be looking for positivity from Olympic Steel as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $0.88, down 71.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $596.6 million, down 14.32% from the year-ago period.
ZEUS's full-year Zacks Consensus Estimates are calling for earnings of $3.50 per share and revenue of $2.35 billion. These results would represent year-over-year changes of -54.95% and -8.32%, respectively.
Investors should also note any recent changes to analyst estimates for Olympic Steel. These recent revisions tend to reflect the evolving nature of short-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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Olympic Steel is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Olympic Steel is holding a Forward P/E ratio of 14.99. This represents a premium compared to its industry's average Forward P/E of 7.74.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
