Analysts Expect Olympic Steel, Inc. (ZEUS) to Post $0.17 EPS

Equities analysts expect Olympic Steel, Inc. (NASDAQ:ZEUS) to report earnings per share of $0.17 for the current quarter, Zacks reports. Two analysts have provided estimates for Olympic Steel’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.08. Olympic Steel posted earnings per share of ($0.04) during the same quarter last year, which would suggest a positive year over year growth rate of 525%. The company is scheduled to issue its next quarterly earnings report before the market opens on Friday, February 15th.

On average, analysts expect that Olympic Steel will report full-year earnings of $3.24 per share for the current financial year, with EPS estimates ranging from $3.15 to $3.32. For the next year, analysts forecast that the firm will post earnings of $2.02 per share, with EPS estimates ranging from $1.75 to $2.29. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Olympic Steel.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, November 8th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.36. The business had revenue of $457.00 million during the quarter, compared to the consensus estimate of $452.60 million. Olympic Steel had a net margin of 2.46% and a return on equity of 13.22%. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS.

A number of brokerages have recently commented on ZEUS. Zacks Investment Research downgraded Olympic Steel from a “hold” rating to a “sell” rating in a research report on Saturday, November 3rd. ValuEngine upgraded Olympic Steel from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st.

NASDAQ ZEUS traded up $0.45 during trading hours on Tuesday, hitting $18.92. 55,718 shares of the company’s stock traded hands, compared to its average volume of 72,160. Olympic Steel has a 52 week low of $13.72 and a 52 week high of $25.84. The company has a current ratio of 3.95, a quick ratio of 1.50 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $208.27 million, a price-to-earnings ratio of 16.03 and a beta of 1.82.

In related news, VP Richard A. Manson purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $42,500.00. Following the completion of the purchase, the vice president now directly owns 9,897 shares of the company’s stock, valued at $168,249. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard T. Marabito bought 3,000 shares of the stock in a transaction on Thursday, December 6th. The stock was purchased at an average cost of $17.15 per share, for a total transaction of $51,450.00. Following the acquisition, the chief financial officer now directly owns 33,614 shares of the company’s stock, valued at approximately $576,480.10. The disclosure for this purchase can be found here. Corporate insiders own 18.28% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ZEUS. Matarin Capital Management LLC acquired a new position in Olympic Steel in the third quarter valued at $4,011,000. Putnam Investments LLC grew its position in Olympic Steel by 895.2% during the second quarter. Putnam Investments LLC now owns 124,400 shares of the basic materials company’s stock valued at $2,539,000 after buying an additional 111,900 shares during the period. BlackRock Inc. raised its stake in Olympic Steel by 6.2% during the third quarter. BlackRock Inc. now owns 1,483,002 shares of the basic materials company’s stock valued at $30,950,000 after purchasing an additional 86,325 shares in the last quarter. Vanguard Group Inc grew its holdings in Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc now owns 753,929 shares of the basic materials company’s stock worth $15,735,000 after acquiring an additional 84,066 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Olympic Steel by 12.5% in the 3rd quarter. Vanguard Group Inc. now owns 753,929 shares of the basic materials company’s stock valued at $15,735,000 after purchasing an additional 84,066 shares during the last quarter. 65.46% 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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