Olympic Steel, Inc. (ZEUS) to Release Quarterly Earnings on Wednesday
Olympic Steel, Inc. (NASDAQ:ZEUS) will be announcing its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.15 per share for the quarter.
Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. The company had revenue of $356.20 million for the quarter, compared to analyst estimates of $365.00 million. During the same quarter last year, the firm earned $0.32 EPS. On average, analysts expect Olympic Steel to post $1.07 EPS for the current fiscal year and $1.33 EPS for the next fiscal year.
Olympic Steel, Inc. (ZEUS) opened at 20.02 on Wednesday. The company’s 50 day moving average is $20.03 and its 200 day moving average is $18.62. Olympic Steel, Inc. has a 12-month low of $15.83 and a 12-month high of $28.67. The company has a market cap of $219.56 million, a price-to-earnings ratio of 26.31 and a beta of 1.74.
In other news, CFO Richard T. Marabito acquired 2,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $17.42 per share, for a total transaction of $34,840.00. Following the completion of the transaction, the chief financial officer now directly owns 30,614 shares of the company’s stock, valued at approximately $533,295.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew S. Greiff acquired 3,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $17.75 per share, for a total transaction of $62,125.00. Following the transaction, the chief operating officer now directly owns 9,021 shares of the company’s stock, valued at $160,122.75. The disclosure for this purchase can be found here. Insiders own 18.29% of the company’s stock.
An institutional investor recently raised its position in Olympic Steel stock. The Manufacturers Life Insurance Company raised its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,349 shares of the basic materials company’s stock after acquiring an additional 934 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Olympic Steel worth $163,000 as of its most recent filing with the Securities & Exchange Commission. 67.92% of the stock is owned by institutional investors and hedge funds.
ZEUS has been the topic of several research reports. Zacks Investment Research cut shares of Olympic Steel from a “hold” rating to a “strong sell” rating in a research report on Friday, October 20th. Jefferies Group LLC restated a “hold” rating on shares of Olympic Steel in a research report on Friday, July 7th. Finally, KeyCorp restated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Olympic Steel presently has an average rating of “Hold” and an average target price of $21.75.
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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