How Olympic Steel (ZEUS) stands out in a strong industry


One stock that might be an intriguing choice for investors right now is Olympic Steel, Inc. ZEUS. Indeed, this Safety in the Steel – Producer space is experiencing strong earnings estimate review activity and is in good company from Zacks’ industry ranking perspective.

This is important because often a rising tide will lift all boats in an industry as there can be big trends in a segment that drive securities across the board. This is arguably happening in the Steel – Producers space as it currently has a Zacks Industry Rank of 29 out of over 250 industries, which suggests that it is well positioned from that perspective, especially compared to d ‘other segments.

Meanwhile, Olympic Steel is also looking pretty good. The company has seen strong earnings estimate revision activity over the past month, suggesting that analysts are becoming a bit more bullish on the company’s near- and long-term prospects.

In fact, over the past month, the current quarter’s estimates have fallen from $ 1.33 per share to $ 2.17 per share, while the current-year estimate has fallen from $ 8.70 per share. share at $ 10.53 per share. This helped ZEUS secure a Zacks Rank # 3 (Hold), further underscoring the company’s strong position. You can see the full list of stocks in today’s Zacks # 1 (Strong Buy) Leaderboard here.

So if you’re looking for a decent pick in a strong industry, consider Olympic Steel. Not only is its industry currently in the top third, but it has recently seen strong estimate revisions, suggesting that it could be a very attractive choice for investors looking for a name in this large segment of the industry. industry.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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