Yahoo Finance Olympic Steel (ZEUS) Stock Moves -0.12%: What You Should Know
Olympic Steel (ZEUS) closed the most recent trading day at $42.50, moving -0.12% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.3%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Heading into today, shares of the steel maker had gained 26.71% over the past month, outpacing the Basic Materials sector's gain of 8.87% and the S&P 500's gain of 6.41% 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 February 23, 2023. The company is expected to report EPS of $0.21, down 92.47% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $578.9 million, down 7.32% from the prior-year quarter.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 20.64% higher. Olympic Steel currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Olympic Steel currently has a Forward P/E ratio of 16.18. For comparison, its industry has an average Forward P/E of 11.15, 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 15, 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
