Olympic Steel (ZEUS) Lowered to “Hold” at BidaskClub

Olympic Steel (NASDAQ:ZEUS) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also recently commented on ZEUS. Zacks Investment Research cut Olympic Steel from a “hold” rating to a “strong sell” rating in a report on Friday, October 20th. KeyCorp reissued a “hold” rating on shares of Olympic Steel in a report on Sunday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.50.

Olympic Steel (ZEUS) opened at $23.37 on Wednesday. The company has a current ratio of 4.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.82. Olympic Steel has a fifty-two week low of $15.83 and a fifty-two week high of $27.16. The company has a market capitalization of $265.07, a price-to-earnings ratio of 21.05, a PEG ratio of 1.66 and a beta of 1.79.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The company had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. Olympic Steel’s revenue was up 23.5% on a year-over-year basis. research analysts expect that Olympic Steel will post 1.27 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ZEUS. Schwab Charles Investment Management Inc. grew its position in Olympic Steel by 188.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 39,196 shares of the basic materials company’s stock worth $764,000 after acquiring an additional 25,596 shares during the last quarter. Rhumbline Advisers grew its position in Olympic Steel by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 18,007 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 135 shares during the last quarter. Legal & General Group Plc grew its position in Olympic Steel by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 16,792 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 1,359 shares during the last quarter. Wells Fargo & Company MN grew its position in Olympic Steel by 30.2% during the 2nd quarter. Wells Fargo & Company MN now owns 19,845 shares of the basic materials company’s stock worth $386,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Olympic Steel by 6.4% during the 2nd quarter. Teachers Advisors LLC now owns 20,312 shares of the basic materials company’s stock worth $396,000 after acquiring an additional 1,220 shares during the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.

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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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