Olympic Steel, Inc. (ZEUS) Expected to Announce Quarterly Sales of $323.05 Million
Wall Street analysts expect that Olympic Steel, Inc. (NASDAQ:ZEUS) will report sales of $323.05 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Olympic Steel’s earnings, with the highest sales estimate coming in at $326.10 million and the lowest estimate coming in at $320.00 million. Olympic Steel reported sales of $268.26 million in the same quarter last year, which suggests a positive year over year growth rate of 20.4%. The business is scheduled to report its next quarterly earnings results before the market opens on Wednesday, November 8th.
According to Zacks, analysts expect that Olympic Steel will report full year sales of $323.05 million for the current year, with estimates ranging from $1.31 billion to $1.32 billion. For the next financial year, analysts expect that the business will post sales of $1.41 billion per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share for the quarter, topping the 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 business 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.
ZEUS has been the topic of several analyst reports. Jefferies Group LLC reiterated a “hold” rating on shares of Olympic Steel in a report on Friday, July 7th. Zacks Investment Research cut Olympic Steel from a “hold” rating to a “strong sell” rating in a report on Friday, October 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a report on Tuesday, September 19th. One 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 stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.75.
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Olympic Steel (NASDAQ:ZEUS) opened at 19.57 on Monday. The company’s 50-day moving average is $20.12 and its 200 day moving average is $18.64. Olympic Steel has a 1-year low of $15.83 and a 1-year high of $28.67. The company has a market cap of $214.62 million, a price-to-earnings ratio of 25.72 and a beta of 1.74.
In other Olympic Steel news, COO Andrew S. Greiff purchased 3,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $62,125.00. Following the acquisition, the chief operating officer now owns 9,021 shares of the company’s stock, valued at $160,122.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard T. Marabito purchased 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 acquisition, the chief financial officer now directly owns 30,614 shares in the company, valued at approximately $533,295.88. The disclosure for this purchase can be found here. 18.29% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Olympic Steel by 12.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after buying an additional 934 shares in the last quarter. Comerica Bank boosted its holdings in shares of Olympic Steel by 4.6% during the 1st quarter. Comerica Bank now owns 10,011 shares of the basic materials company’s stock worth $192,000 after buying an additional 438 shares in the last quarter. Capstone Asset Management Co. boosted its holdings in shares of Olympic Steel by 5.4% during the 2nd quarter. Capstone Asset Management Co. now owns 11,526 shares of the basic materials company’s stock worth $225,000 after buying an additional 590 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Olympic Steel by 29.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,637 shares of the basic materials company’s stock worth $235,000 after buying an additional 2,879 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Olympic Steel by 4.0% during the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 68.10% of the company’s stock.
About Olympic Steel
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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