Olympic Steel, Inc. (NASDAQ:ZEUS) – Investment analysts at KeyCorp cut their Q1 2020 earnings per share estimates for Olympic Steel in a research note issued on Monday, March 23rd. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $0.04 per share for the quarter, down from their previous estimate of $0.11. KeyCorp also issued estimates for Olympic Steel’s FY2021 earnings at $0.55 EPS.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Friday, February 21st. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.03). The company had revenue of $319.74 million for the quarter, compared to analyst estimates of $342.80 million. Olympic Steel had a return on equity of 0.44% and a net margin of 0.24%.
Separately, Zacks Investment Research downgraded Olympic Steel from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 25th.
Shares of ZEUS opened at $9.59 on Thursday. The company has a 50-day moving average of $12.19 and a two-hundred day moving average of $14.82. The stock has a market cap of $113.59 million, a price-to-earnings ratio of 29.06 and a beta of 2.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.15 and a quick ratio of 1.45. Olympic Steel has a one year low of $8.44 and a one year high of $18.41.
Large investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. increased its stake in shares of Olympic Steel by 298.8% during the 4th quarter. Panagora Asset Management Inc. now owns 101,191 shares of the basic materials company’s stock worth $1,813,000 after purchasing an additional 75,816 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Olympic Steel by 487.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 79,308 shares of the basic materials company’s stock valued at $1,421,000 after acquiring an additional 65,808 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Olympic Steel in the 4th quarter valued at approximately $1,147,000. Mackay Shields LLC raised its stake in shares of Olympic Steel by 459.4% in the 4th quarter. Mackay Shields LLC now owns 56,500 shares of the basic materials company’s stock valued at $1,013,000 after acquiring an additional 46,400 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Olympic Steel by 24.6% in the 4th quarter. Acadian Asset Management LLC now owns 227,136 shares of the basic materials company’s stock valued at $4,071,000 after acquiring an additional 44,859 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.
In other news, Director Arthur F. Anton bought 5,229 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $9.56 per share, for a total transaction of $49,989.24. Following the completion of the purchase, the director now directly owns 39,007 shares of the company’s stock, valued at approximately $372,906.92. The purchase was disclosed in a filing with the SEC, which is available through this link. 18.74% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.83%. Olympic Steel’s dividend payout ratio is 72.73%.
Olympic Steel Company Profile
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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