Jefferies Group Weighs in on Olympic Steel, Inc.’s Q4 2017 Earnings (ZEUS)
Olympic Steel, Inc. (NASDAQ:ZEUS) – Stock analysts at Jefferies Group dropped their Q4 2017 earnings estimates for Olympic Steel in a note issued to investors on Wednesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of ($0.18) per share for the quarter, down from their prior forecast of ($0.16). Jefferies Group has a “Hold” rating on the stock.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Friday, April 28th. The basic materials company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.11. Olympic Steel had a net margin of 0.65% and a return on equity of 2.41%. The business had revenue of $334.90 million for the quarter, compared to analysts’ expectations of $305.41 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The business’s revenue was up 29.7% compared to the same quarter last year.
Separately, Zacks Investment Research lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $23.00.
Olympic Steel (ZEUS) traded down 2.453% on Friday, reaching $17.695. 72,995 shares of the company’s stock were exchanged. Olympic Steel has a one year low of $15.83 and a one year high of $29.65. The firm has a market cap of $193.99 million, a PE ratio of 26.974 and a beta of 1.75. The firm has a 50 day moving average price of $18.32 and a 200 day moving average price of $20.34.
Several hedge funds have recently modified their holdings of ZEUS. State of Tennessee Treasury Department increased its stake in shares of Olympic Steel by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 8,563 shares of the basic materials company’s stock worth $159,000 after buying an additional 1,292 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Olympic Steel during the fourth quarter worth about $169,000. Comerica Bank increased its stake in shares of Olympic Steel by 4.6% in the first quarter. Comerica Bank now owns 10,011 shares of the basic materials company’s stock worth $192,000 after buying an additional 438 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Olympic Steel by 3.5% in the first quarter. Capstone Asset Management Co. now owns 10,936 shares of the basic materials company’s stock worth $203,000 after buying an additional 370 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Olympic Steel during the first quarter worth about $234,000. 73.66% of the stock is owned by hedge funds and other institutional investors.
In other Olympic Steel news, Director Arthur F. Anton acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $20.00 per share, with a total value of $40,000.00. Following the transaction, the director now owns 23,778 shares of the company’s stock, valued at $475,560. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael G. Rippey acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average cost of $17.10 per share, with a total value of $25,650.00. Following the completion of the transaction, the director now directly owns 13,800 shares in the company, valued at approximately $235,980. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 9,375 shares of company stock worth $174,452. Insiders own 18.29% 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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