Olympic Steel, Inc. Expected to Earn Q2 2017 Earnings of $0.41 Per Share (NASDAQ:ZEUS)
Olympic Steel, Inc. (NASDAQ:ZEUS) – Analysts at Jefferies Group reduced their Q2 2017 earnings per share (EPS) estimates for shares of Olympic Steel in a report released on Wednesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.43. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Olympic Steel’s FY2017 earnings at $0.76 EPS and FY2018 earnings at $0.97 EPS.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Friday, April 28th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.11. Olympic Steel had a return on equity of 2.41% and a net margin of 0.65%. The business had revenue of $334.90 million during the quarter, compared to analyst estimates of $305.41 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Olympic Steel’s revenue for the quarter was up 29.7% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “Olympic Steel, Inc. Expected to Earn Q2 2017 Earnings of $0.41 Per Share (NASDAQ:ZEUS)” was first posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/07/20/olympic-steel-inc-expected-to-earn-q2-2017-earnings-of-0-41-per-share-nasdaqzeus.html.
Separately, Zacks Investment Research lowered Olympic Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $23.00.
Shares of Olympic Steel (ZEUS) opened at 18.42 on Thursday. The company has a market cap of $201.94 million, a price-to-earnings ratio of 28.08 and a beta of 1.75. Olympic Steel has a 12-month low of $15.83 and a 12-month high of $29.65. The firm’s 50-day moving average price is $18.27 and its 200 day moving average price is $20.36.
In other Olympic Steel news, Director Arthur F. Anton purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the purchase, the director now directly owns 23,778 shares in the company, valued at $475,560. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ratta Ralph M. Della, Jr. purchased 1,325 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average price of $18.89 per share, with a total value of $25,029.25. Following the purchase, the director now owns 12,795 shares in the company, valued at $241,697.55. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 9,375 shares of company stock valued at $174,452. 18.29% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Olympic Steel by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 926,074 shares of the basic materials company’s stock valued at $17,188,000 after buying an additional 3,394 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Olympic Steel by 7.4% in the first quarter. Vanguard Group Inc. now owns 487,212 shares of the basic materials company’s stock valued at $9,042,000 after buying an additional 33,491 shares in the last quarter. Foundry Partners LLC raised its position in shares of Olympic Steel by 82.3% in the first quarter. Foundry Partners LLC now owns 224,290 shares of the basic materials company’s stock valued at $4,163,000 after buying an additional 101,255 shares in the last quarter. State Street Corp raised its position in shares of Olympic Steel by 5.0% in the fourth quarter. State Street Corp now owns 214,356 shares of the basic materials company’s stock valued at $5,190,000 after buying an additional 10,296 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Olympic Steel by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 194,500 shares of the basic materials company’s stock valued at $4,713,000 after buying an additional 34,600 shares in the last quarter. Hedge funds and other institutional investors own 73.66% of the company’s stock.
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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