ZEUS Stock Summary and Trading Ideas (Olympic Steel | NASDAQ:ZEUS)

Olympic Steel Inc provides metals processing and distribution services in the United States. The company operates in three reportable segments; specialty metals flat products, carbon flat products, and tubular and pipe products. It specializes in the processing and distribution of large volumes of carbon, aluminum, and stainless steel flat-rolled sheet, coils, plates, bars, and fabricated parts. The group serves various industries such as industrial machinery and equipment manufacturers, automobile manufacturers and suppliers, and transportation equipment manufacturers. The company generates majority of the revenue from carbon flat products.

Olympic Steel trades on the NASDAQ stock market under the symbol ZEUS.

As of April 17, 2024, ZEUS stock price declined to $67.92 with 52,031 million shares trading.

ZEUS has a beta of 0.99, meaning it tends to be less sensitive to market movements. ZEUS has a correlation of 0.09 to the broad based SPY ETF.

ZEUS has a market cap of $755.79 million. This is considered a Small Cap stock.

Last quarter Olympic Steel reported $489 million in Revenue and $.36 earnings per share. This fell short of revenue expectation by $-13 million and exceeded earnings estimates by $.06.

In the last 3 years, ZEUS stock traded as high as $73.49 and as low as $19.92.

The top ETF exchange traded funds that ZEUS belongs to (by Net Assets): CALF, IJR, VTI, IWM, XME.

ZEUS has outperformed the market in the last year with a price return of +31.3% while the SPY ETF gained +23.0%. However, in the short term, ZEUS had mixed performance relative to the market. It has underperformed in the last 3 months, returning +5.4% vs +5.7% return in SPY. But in the last 2 weeks, ZEUS shares have fared better than the market returning -2.6% compared to SPY -3.5%.

ZEUS support price is $66.79 and resistance is $69.90 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ZEUS stock will trade within this expected range on the day.