Olympic Steel, Inc. (NASDAQ:ZEUS) – Investment analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for Olympic Steel in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $1.30 for the year, up from their prior estimate of $1.29. Jefferies Group also issued estimates for Olympic Steel’s FY2019 earnings at $2.71 EPS.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The firm had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. Olympic Steel’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share.
A number of other equities research analysts have also recently issued reports on ZEUS. KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a report on Tuesday, September 19th. Zacks Investment Research cut shares of Olympic Steel from a “hold” rating to a “strong sell” rating in a report on Friday, October 20th. Finally, BidaskClub raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.50.
Shares of Olympic Steel (NASDAQ ZEUS) opened at $23.59 on Wednesday. The stock has a market cap of $258.05, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.61 and a beta of 1.79. Olympic Steel has a fifty-two week low of $15.83 and a fifty-two week high of $27.16. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82.
Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in Olympic Steel by 12.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 934 shares during the last quarter. Algert Global LLC acquired a new position in Olympic Steel during the 3rd quarter worth $261,000. Crossmark Global Holdings Inc. acquired a new position in Olympic Steel during the 3rd quarter worth $264,000. PNC Financial Services Group Inc. lifted its position in Olympic Steel by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 39 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Olympic Steel by 4.0% during the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after acquiring an additional 490 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.
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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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