Olympic Steel, Inc. (NASDAQ:ZEUS) – Equities researchers at Jefferies Group lifted their FY2018 earnings per share estimates for shares of Olympic Steel in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $2.04 per share for the year, up from their prior estimate of $1.58.
A number of other analysts have also recently issued reports on ZEUS. Zacks Investment Research upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th.
Olympic Steel (NASDAQ:ZEUS) traded down $0.06 on Thursday, hitting $23.52. The stock had a trading volume of 80,716 shares, compared to its average volume of 92,683. The company has a market capitalization of $258.71, a PE ratio of 21.19, a PEG ratio of 1.83 and a beta of 1.79. The company has a current ratio of 4.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.82. Olympic Steel has a 1-year low of $15.83 and a 1-year high of $27.16.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The company had revenue of $331.44 million for the quarter, compared to the consensus estimate of $323.05 million. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) EPS.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, November 30th. Olympic Steel’s dividend payout ratio is presently 7.21%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZEUS. Schwab Charles Investment Management Inc. increased its position in shares of Olympic Steel by 188.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 39,196 shares of the basic materials company’s stock valued at $764,000 after purchasing an additional 25,596 shares during the period. Rhumbline Advisers increased its position in shares of Olympic Steel by 0.8% during the second quarter. Rhumbline Advisers now owns 18,007 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 135 shares during the period. Legal & General Group Plc increased its position in shares of Olympic Steel by 8.8% during the second quarter. Legal & General Group Plc now owns 16,792 shares of the basic materials company’s stock valued at $327,000 after purchasing an additional 1,359 shares during the period. Prudential Financial Inc. increased its position in shares of Olympic Steel by 206.5% during the second quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock valued at $1,946,000 after purchasing an additional 67,281 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Olympic Steel by 30.2% during the second quarter. Wells Fargo & Company MN now owns 19,845 shares of the basic materials company’s stock valued at $386,000 after purchasing an additional 4,600 shares during the period. Institutional investors and hedge funds own 67.91% of the company’s stock.
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Olympic Steel Company Profile
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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