Olympic Steel Price Target Cut to $25.00 by Analysts at Jefferies Group (ZEUS)
Stock analysts at Jefferies Group reduced their price objective on shares of Olympic Steel (NASDAQ:ZEUS) from $26.50 to $25.00 in a report issued on Friday. Jefferies Group’s price target points to a potential upside of 9.17% from the stock’s previous close.
Olympic Steel (NASDAQ:ZEUS) traded up 0.04% during mid-day trading on Friday, hitting $23.01. The stock had a trading volume of 33,095 shares. Olympic Steel has a one year low of $20.88 and a one year high of $31.68. The stock has a 50-day moving average of $23.67 and a 200-day moving average of $25.67. The company has a market cap of $252.6 million and a price-to-earnings ratio of 48.83.
Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.09. The company had revenue of $386.00 million for the quarter, compared to the consensus estimate of $364.83 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Olympic Steel will post $1.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.35%.
Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Olympic Steel in a research note on Friday. They now have a $24.00 price target on the stock, down previously from $27.00.
Olympic Steel, Inc is a United States metals service center. The Company’s primary focus is on the direct sale and distribution of volumes of processed carbon, coated, aluminum and stainless flat-rolled sheet, coil and plate products.
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