Yahoo Finance Olympic Steel (ZEUS) Gains As Market Dips: What You Should Know
Olympic Steel (ZEUS) closed the most recent trading day at $53.20, moving +0.91% from the previous trading session. This change outpaced the S&P 500's 0.6% loss on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Coming into today, shares of the steel maker had gained 7.05% in the past month. In that same time, the Basic Materials sector gained 7.21%, while the S&P 500 gained 6.22%.
Olympic Steel will be looking to display strength as it nears its next earnings release, which 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. Meanwhile, our latest consensus estimate is calling for revenue of $596.6 million, down 14.32% from the prior-year quarter.
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. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Olympic Steel is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Olympic Steel currently has a Forward P/E ratio of 15.08. For comparison, its industry has an average Forward P/E of 7.6, which means Olympic Steel is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow ZEUS in the coming trading sessions, be sure to utilize Zacks.com.
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Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
