Olympic Steel Inc. (NASDAQ:ZEUS) – Research analysts at Jefferies Group reduced their Q3 2016 earnings per share (EPS) estimates for shares of Olympic Steel in a report released on Thursday. Jefferies Group analyst S. Rosenfeld now forecasts that the brokerage will post earnings per share of $0.41 for the quarter, down from their prior estimate of $0.44. Jefferies Group currently has a “Hold” rating and a $20.00 target price on the stock. Jefferies Group also issued estimates for Olympic Steel’s Q4 2016 earnings at $0.10 EPS and FY2016 earnings at $0.82 EPS.

A number of other research firms also recently weighed in on ZEUS. TheStreet raised Olympic Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. KeyCorp downgraded Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 target price on the stock. in a report on Friday, August 19th. Finally, Zacks Investment Research downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th.

Olympic Steel (NASDAQ:ZEUS) opened at 18.49 on Monday. The stock’s 50 day moving average price is $23.03 and its 200 day moving average price is $22.03. Olympic Steel has a one year low of $7.98 and a one year high of $31.19. The stock’s market cap is $202.63 million.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Olympic Steel had a negative return on equity of 0.82% and a negative net margin of 0.27%. The business had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $305.66 million. During the same period in the previous year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Tuesday, August 30th. Olympic Steel’s dividend payout ratio (DPR) is currently -32.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in Olympic Steel by 51.8% in the first quarter. Acadian Asset Management LLC now owns 143,237 shares of the company’s stock valued at $2,479,000 after buying an additional 48,887 shares during the period. Royce & Associates LP increased its position in Olympic Steel by 19.1% in the first quarter. Royce & Associates LP now owns 294,180 shares of the company’s stock valued at $5,092,000 after buying an additional 47,100 shares during the period. State Street Corp increased its position in Olympic Steel by 6.6% in the first quarter. State Street Corp now owns 192,263 shares of the company’s stock valued at $3,328,000 after buying an additional 11,846 shares during the period. Geode Capital Management LLC increased its position in Olympic Steel by 4.3% in the first quarter. Geode Capital Management LLC now owns 65,338 shares of the company’s stock valued at $1,130,000 after buying an additional 2,680 shares during the period. Finally, Springbok Capital Management LLC increased its position in Olympic Steel by 9.5% in the first quarter. Springbok Capital Management LLC now owns 16,100 shares of the company’s stock valued at $279,000 after buying an additional 1,400 shares during the period. 73.50% of the stock is currently owned by hedge funds and other institutional investors.

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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