Olympic Steel, Inc. (NASDAQ:ZEUS) – Equities researchers at KeyCorp boosted their FY2019 EPS estimates for shares of Olympic Steel in a research report issued on Thursday, May 17th, according to Zacks Investment Research. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $2.08 per share for the year, up from their prior forecast of $2.03.
Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, May 3rd. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $397.00 million. Olympic Steel had a net margin of 1.38% and a return on equity of 5.62%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share.
ZEUS has been the subject of several other reports. BidaskClub raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Zacks Investment Research cut shares of Olympic Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 15th.
Olympic Steel stock traded up $0.53 during trading hours on Monday, hitting $23.46. The stock had a trading volume of 97,700 shares, compared to its average volume of 119,379. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.35 and a current ratio of 3.68. The stock has a market capitalization of $255.60 million, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.25 and a beta of 1.77. Olympic Steel has a 12-month low of $16.43 and a 12-month high of $25.84.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZEUS. Matarin Capital Management LLC purchased a new position in shares of Olympic Steel during the first quarter valued at approximately $3,847,000. Millennium Management LLC bought a new stake in Olympic Steel during the first quarter valued at approximately $930,000. Guggenheim Capital LLC grew its position in Olympic Steel by 38.7% during the fourth quarter. Guggenheim Capital LLC now owns 148,243 shares of the basic materials company’s stock valued at $3,185,000 after buying an additional 41,326 shares during the period. Foundry Partners LLC grew its position in Olympic Steel by 14.8% during the fourth quarter. Foundry Partners LLC now owns 275,690 shares of the basic materials company’s stock valued at $5,925,000 after buying an additional 35,575 shares during the period. Finally, BlackRock Inc. grew its position in Olympic Steel by 2.6% during the fourth quarter. BlackRock Inc. now owns 1,326,469 shares of the basic materials company’s stock valued at $28,507,000 after buying an additional 33,337 shares during the period. 64.56% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. Olympic Steel’s payout ratio is 6.78%.
Olympic Steel Company Profile
Olympic Steel, Inc engages in the processing, sale, and distribution of metal products. It operates through the following segments: Carbon Flat Products, Specialty Metals Flat Products, and Tubular and Pipe Products. The Carbon Flat Products segment includes processed carbon and coated flat-rolled sheet; coil and plate products; and fabricated parts.
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