Olympic Steel, Inc. (ZEUS) Receives Hold Rating from KeyCorp
Olympic Steel, Inc. (NASDAQ:ZEUS)‘s stock had its “hold” rating reaffirmed by research analysts at KeyCorp in a research report issued to clients and investors on Friday. KeyCorp also issued estimates for Olympic Steel’s Q4 2017 earnings at $0.05 EPS, FY2017 earnings at $1.18 EPS and FY2018 earnings at $1.39 EPS.
Separately, Zacks Investment Research upgraded Olympic Steel from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.00.
Olympic Steel (ZEUS) opened at $19.93 on Friday. Olympic Steel has a twelve month low of $15.83 and a twelve month high of $28.67. The company has a current ratio of 4.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $218.66, a price-to-earnings ratio of 20.13, a PEG ratio of 2.15 and a beta of 1.77.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The firm had revenue of $331.44 million during the quarter, compared to the consensus estimate of $323.05 million. During the same period last year, the company earned ($0.16) earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. sell-side analysts anticipate that Olympic Steel will post 1.24 EPS for the current fiscal year.
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In related news, COO Andrew S. Greiff purchased 3,500 shares of Olympic Steel stock in a transaction dated Tuesday, September 5th. The stock was purchased at an average cost 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 of the company’s stock, valued at $160,122.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 18.29% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of ZEUS. Foundry Partners LLC increased its holdings in Olympic Steel by 5.2% in the 3rd quarter. Foundry Partners LLC now owns 240,115 shares of the basic materials company’s stock worth $5,283,000 after buying an additional 11,825 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Olympic Steel by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 926,074 shares of the basic materials company’s stock worth $17,188,000 after buying an additional 3,394 shares in the last quarter. Vanguard Group Inc. increased its holdings in Olympic Steel by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 487,212 shares of the basic materials company’s stock worth $9,042,000 after buying an additional 33,491 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Olympic Steel by 46.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 203,761 shares of the basic materials company’s stock worth $3,969,000 after buying an additional 64,491 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Olympic Steel by 206.5% in the 2nd quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock worth $1,946,000 after buying an additional 67,281 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.
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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