Wall Street brokerages forecast that Olympic Steel, Inc. (NASDAQ:ZEUS) will report earnings of $0.11 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Olympic Steel’s earnings. Olympic Steel reported earnings of ($0.19) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 157.9%. The firm is scheduled to issue its next earnings report before the market opens on Friday, March 2nd.
On average, analysts expect that Olympic Steel will report full year earnings of $1.25 per share for the current financial year. For the next year, analysts forecast that the business will report earnings of $1.95 per share, with EPS estimates ranging from $1.85 to $2.04. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Olympic Steel.
Several analysts have commented on the stock. BidaskClub cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research cut shares of Olympic Steel from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 13th. Finally, KeyCorp reissued a “hold” rating on shares of Olympic Steel in a report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Olympic Steel presently has a consensus rating of “Hold” and a consensus price target of $20.50.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Wednesday, February 28th. Olympic Steel’s dividend payout ratio (DPR) is 7.21%.
Several hedge funds have recently made changes to their positions in ZEUS. Schwab Charles Investment Management Inc. grew its holdings in shares of Olympic Steel by 188.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 39,196 shares of the basic materials company’s stock valued at $764,000 after buying an additional 25,596 shares during the period. Wells Fargo & Company MN boosted its stake in Olympic Steel by 30.2% in the 2nd quarter. Wells Fargo & Company MN now owns 19,845 shares of the basic materials company’s stock worth $386,000 after purchasing an additional 4,600 shares during the period. Teachers Advisors LLC boosted its stake in Olympic Steel by 6.4% in the 2nd quarter. Teachers Advisors LLC now owns 20,312 shares of the basic materials company’s stock worth $396,000 after purchasing an additional 1,220 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Olympic Steel by 143.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 84,962 shares of the basic materials company’s stock worth $1,655,000 after purchasing an additional 50,005 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Olympic Steel by 46.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 203,761 shares of the basic materials company’s stock worth $3,969,000 after purchasing an additional 64,491 shares during the period. 67.81% of the stock is owned by institutional investors.
WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/14/analysts-expect-olympic-steel-inc-zeus-will-post-earnings-of-0-11-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.