Olympic Steel, Inc. (ZEUS) Expected to Announce Earnings of $0.15 Per Share
Analysts expect that Olympic Steel, Inc. (NASDAQ:ZEUS) will report earnings per share (EPS) of $0.15 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Olympic Steel’s earnings, with estimates ranging from $0.10 to $0.20. Olympic Steel reported earnings per share of ($0.16) in the same quarter last year, which would suggest a positive year over year growth rate of 193.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Olympic Steel will report full year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $0.98 to $1.23. For the next fiscal year, analysts anticipate that the business will report earnings of $1.33 per share, with EPS estimates ranging from $1.20 to $1.45. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. The firm had revenue of $356.20 million during the quarter, compared to the consensus estimate of $365.00 million. During the same quarter last year, the firm earned $0.32 EPS.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Olympic Steel from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 19th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Olympic Steel in a research report on Friday, July 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $21.75.
In other news, CFO Richard T. Marabito bought 2,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $17.42 per share, for a total transaction of $34,840.00. Following the acquisition, the chief financial officer now directly owns 30,614 shares of the company’s stock, valued at approximately $533,295.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew S. Greiff bought 3,500 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was purchased at an average price of $17.75 per share, for a total transaction of $62,125.00. Following the completion of the acquisition, the chief operating officer now directly owns 9,021 shares in the company, valued at $160,122.75. The disclosure for this purchase can be found here. Insiders own 18.29% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in Olympic Steel in the 2nd quarter valued at about $280,000. The Manufacturers Life Insurance Company boosted its holdings in Olympic Steel by 12.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 934 shares during the last quarter. State Street Corp boosted its holdings in Olympic Steel by 5.8% in the 2nd quarter. State Street Corp now owns 234,772 shares of the basic materials company’s stock valued at $4,574,000 after purchasing an additional 12,824 shares during the last quarter. Royal Bank of Canada boosted its holdings in Olympic Steel by 26.8% in the 2nd quarter. Royal Bank of Canada now owns 20,517 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 4,334 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in Olympic Steel in the 2nd quarter valued at about $1,266,000. Institutional investors own 68.11% of the company’s stock.
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Olympic Steel (NASDAQ:ZEUS) opened at 21.03 on Monday. The company has a market cap of $230.64 million, a P/E ratio of 27.63 and a beta of 1.74. The company has a 50 day moving average of $19.14 and a 200-day moving average of $18.50. Olympic Steel has a one year low of $15.83 and a one year high of $28.67.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.08 annualized dividend and a yield of 0.38%. Olympic Steel’s payout ratio is 10.67%.
Olympic Steel Company Profile
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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