Olympic Steel (ZEUS) is a $165 million US metals service heart focused above the cope with sale and distribution of big volumes of processed carbon, coated and stainless flat-rolled sheet, coil and dish steel and aluminum products.
The Company's CTI subsidiary is a main distributor of steel tubing, bar, pipe, valves and fittings, and fabricates stress parts though the electric utility industry.
ZEUS was a Zacks #5 degree healthful Sell though most of Q1 when it was trading above $18. It will remain at the cellar though some time now following the company's Q1 interpret above can 2.
Olympic Steel came out with quarterly pay of $0.18 per share, missing the Zacks Consensus appraise of $0.22 per share. This compares ought pay of $0.70 per piece a year ago. These figures are adjusted though non-recurring items.
This quarterly interpret represents an pay amaze of -18%. A piece ago, it was expected that this steel maker used to mail pay of $0.17 per piece when it really produced pay of $0.14, delivering a amaze of -17.65%.
Olympic Steel, which belongs ought the Zacks Steel Producers industry, posted revenues of $445.92 million though the piece ended March 2019, surpassing the Zacks Consensus appraise by 6.70%. This compares ought year-ago revenues of $375.60 million. The corporation has topped consensus revenue estimates entire four mature can the final four quarters.
But though you can watch at the Detailed Estimates tables below, sales are expected ought reject though two consecutive years and pay are forecasted ought dip 66% at 2019...
While the cope with impacts of the business campaign with China upon ZEUS are no known at this time, entire we really need ought understand is the analyst consensus though this year's EPS has dropped can 40% from $1.70 ought $1.00 at fair the past little weeks.
There can exist a time ought add ZEUS ought your portfolio though it tests 3-year lows below $14, besides that time is no now. The Zacks degree will quit you understand when it's safe again.
Today's Best Stocks from Zacks
Would you alike ought watch the updated picks from our best market-beating strategies? From 2017 across 2018, nevertheless the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has no fair been a modern phenomenon. From 2000 – 2018, nevertheless the S&P averaged +4.8% per year, our sumit strategies averaged up ought +56.2% per year.
See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks though the Next 30 Days. Click ought win this free report
Olympic Steel, Inc. (ZEUS) : free Stock Analysis Report
To devour this article above Zacks.com click here.
Zacks Investment Research
