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Is Olympic Steel (ZEUS) Stock Outpacing Its Basic Materials Peers This Year?
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Investors focused on the Basic Materials space have likely heard of Olympic Steel (ZEUS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Olympic Steel is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 125.81% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ZEUS has returned 120.71% so far this year. In comparison, Basic Materials companies have returned an average of 16.40%. This shows that Olympic Steel is outperforming its peers so far this year.
To break things down more, ZEUS belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #13 in the Zacks Industry Rank. Stocks in this group have gained about 43.48% so far this year, so ZEUS is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to ZEUS as it looks to continue its solid performance.
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Is Olympic Steel (ZEUS) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of Olympic Steel (ZEUS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Olympic Steel is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 125.81% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ZEUS has returned 120.71% so far this year. In comparison, Basic Materials companies have returned an average of 16.40%. This shows that Olympic Steel is outperforming its peers so far this year.
To break things down more, ZEUS belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #13 in the Zacks Industry Rank. Stocks in this group have gained about 43.48% so far this year, so ZEUS is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to ZEUS as it looks to continue its solid performance.