Olympic Steel, Inc. (NASDAQ:ZEUS) – Research analysts at Jefferies Group upped their FY2017 earnings per share estimates for shares of Olympic Steel in a research note issued to investors on Wednesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $1.29 per share for the year, up from their prior estimate of $0.96. Jefferies Group also issued estimates for Olympic Steel’s Q4 2017 earnings at $0.11 EPS and FY2018 earnings at $1.58 EPS.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Olympic Steel from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Olympic Steel presently has an average rating of “Buy” and an average target price of $23.00.
Olympic Steel (ZEUS) opened at $18.81 on Monday. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82. Olympic Steel has a twelve month low of $15.83 and a twelve month high of $28.67. The stock has a market capitalization of $206.37, a PE ratio of 19.60, a P/E/G ratio of 1.98 and a beta of 1.77.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same period in the previous year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of Olympic Steel by 128.5% during the 1st quarter. Wells Fargo & Company MN now owns 15,245 shares of the basic materials company’s stock worth $283,000 after buying an additional 8,574 shares during the period. Bank of New York Mellon Corp grew its position in shares of Olympic Steel by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 144,755 shares of the basic materials company’s stock worth $2,687,000 after buying an additional 2,791 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 valued at $17,188,000 after purchasing an additional 3,394 shares during the period. Vanguard Group Inc. grew its position in shares of Olympic Steel by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 487,212 shares of the basic materials company’s stock valued at $9,042,000 after purchasing an additional 33,491 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Olympic Steel by 206.5% in the 2nd quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock valued at $1,946,000 after purchasing an additional 67,281 shares during the period. Institutional investors own 69.21% of the company’s stock.
In other news, COO Andrew S. Greiff acquired 3,500 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 9,021 shares in the company, valued at $160,122.75. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 18.29% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.43%. Olympic Steel’s payout ratio is 7.21%.
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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