Olympic Steel, Inc. (NASDAQ:ZEUS) – Analysts at Jefferies Group cut their Q3 2017 earnings estimates for Olympic Steel in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.04 per share for the quarter, down from their prior estimate of $0.10. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Olympic Steel’s FY2017 earnings at $0.91 EPS.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. The company had revenue of $356.20 million during the quarter, compared to analyst estimates of $365.00 million. During the same period in the prior year, the firm earned $0.32 earnings per share.
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A number of other brokerages have also issued reports on ZEUS. Zacks Investment Research raised Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp reissued a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.75.
Shares of Olympic Steel (ZEUS) opened at 19.93 on Thursday. Olympic Steel has a 1-year low of $15.83 and a 1-year high of $28.67. The firm’s 50-day moving average is $19.90 and its 200-day moving average is $18.59. The stock has a market capitalization of $218.57 million, a price-to-earnings ratio of 26.19 and a beta of 1.74.
In other news, CFO Richard T. Marabito bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $17.42 per share, with a total value of $34,840.00. Following the transaction, the chief financial officer now owns 30,614 shares in the company, valued at $533,295.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew S. Greiff bought 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average cost of $17.75 per share, for a total transaction of $62,125.00. Following the transaction, the chief operating officer now owns 9,021 shares in the company, valued at approximately $160,122.75. The disclosure for this purchase can be found here. 18.29% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of Olympic Steel by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 926,074 shares of the basic materials company’s stock worth $17,188,000 after purchasing an additional 3,394 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Olympic Steel by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 526,191 shares of the basic materials company’s stock worth $10,250,000 after purchasing an additional 38,979 shares during the last quarter. State Street Corp increased its position in shares of Olympic Steel by 5.8% during the 2nd quarter. State Street Corp now owns 234,772 shares of the basic materials company’s stock worth $4,574,000 after purchasing an additional 12,824 shares during the last quarter. Foundry Partners LLC increased its position in shares of Olympic Steel by 1.8% during the 2nd quarter. Foundry Partners LLC now owns 228,290 shares of the basic materials company’s stock worth $4,447,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Olympic Steel by 46.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 203,761 shares of the basic materials company’s stock worth $3,969,000 after purchasing an additional 64,491 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.
About Olympic Steel
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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