Wall Street analysts expect Olympic Steel, Inc. (NASDAQ:ZEUS) to post earnings of $0.84 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Olympic Steel’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.77. Olympic Steel reported earnings of $0.20 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 320%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, November 8th.
On average, analysts expect that Olympic Steel will report full-year earnings of $3.07 per share for the current year, with EPS estimates ranging from $3.03 to $3.10. For the next fiscal year, analysts anticipate that the business will report earnings of $2.22 per share, with EPS estimates ranging from $2.02 to $2.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $453.00 million for the quarter, compared to analyst estimates of $445.00 million. Olympic Steel had a return on equity of 9.63% and a net margin of 2.04%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS.
A number of research analysts have commented on the company. ValuEngine upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. BidaskClub lowered Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Zacks Investment Research lowered Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, August 17th.
Shares of ZEUS opened at $18.96 on Friday. The firm has a market capitalization of $229.74 million, a price-to-earnings ratio of 16.07 and a beta of 1.72. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 3.67. Olympic Steel has a 52 week low of $18.10 and a 52 week high of $25.84.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. Olympic Steel’s payout ratio is 6.78%.
In other news, Director Arthur F. Anton acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were purchased at an average cost of $23.37 per share, for a total transaction of $233,700.00. Following the transaction, the director now owns 28,778 shares of the company’s stock, valued at $672,541.86. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 18.28% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Olympic Steel by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 116,555 shares of the basic materials company’s stock valued at $2,390,000 after purchasing an additional 2,665 shares during the period. Strs Ohio raised its stake in Olympic Steel by 9.1% during the 2nd quarter. Strs Ohio now owns 32,400 shares of the basic materials company’s stock worth $661,000 after buying an additional 2,700 shares during the period. Globeflex Capital L P raised its stake in Olympic Steel by 13.5% during the 2nd quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock worth $533,000 after buying an additional 3,100 shares during the period. Foundry Partners LLC raised its stake in Olympic Steel by 1.2% during the 1st quarter. Foundry Partners LLC now owns 278,990 shares of the basic materials company’s stock worth $5,722,000 after buying an additional 3,300 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Olympic Steel by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 928,489 shares of the basic materials company’s stock worth $19,043,000 after buying an additional 3,396 shares during the period. 66.64% of the stock is currently owned by institutional investors.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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