Olympic Steel (ZEUS) closed the most recent trading day at $47.52, moving -1.27% from the previous trading session. This move lagged the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq lost 4.09%.
Heading into today, shares of the steel maker had gained 13.57% over the past month, outpacing the Basic Materials sector's loss of 1.25% and the S&P 500's gain of 3.98% in that time.
Investors will be hoping for strength from Olympic Steel as it approaches its next earnings release. In that report, analysts expect Olympic Steel to post earnings of $1.26 per share. This would mark a year-over-year decline of 61.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $636.4 million, down 10.26% from the year-ago period.
ZEUS's full-year Zacks Consensus Estimates are calling for earnings of $3.60 per share and revenue of $2.26 billion. These results would represent year-over-year changes of -53.67% and -11.66%, respectively.
Any recent changes to analyst estimates for Olympic Steel should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.6% higher within the past month. Olympic Steel is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Olympic Steel is currently trading at a Forward P/E ratio of 13.37. For comparison, its industry has an average Forward P/E of 7.31, 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 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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