Wall Street brokerages expect that Olympic Steel, Inc. (NASDAQ:ZEUS) will announce earnings of $0.84 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Olympic Steel’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.77. Olympic Steel posted earnings of $0.20 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 320%. The business is expected to announce its next earnings report before the market opens on Thursday, November 8th.
On average, analysts expect that Olympic Steel will report full year earnings of $3.07 per share for the current financial year, with EPS estimates ranging from $3.03 to $3.10. For the next year, analysts forecast that the business will report earnings of $2.22 per share, with EPS estimates ranging from $2.02 to $2.41. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. The company had revenue of $453.00 million for the quarter, compared to the consensus estimate of $445.00 million. Olympic Steel had a return on equity of 9.63% and a net margin of 2.04%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS.
A number of research analysts have recently weighed in on the company. ValuEngine downgraded Olympic Steel from a “sell” rating to a “strong sell” rating in a research note on Friday, September 28th. Zacks Investment Research downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, BidaskClub downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th.
In other news, Director Arthur F. Anton acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was acquired at an average price of $23.37 per share, for a total transaction of $233,700.00. Following the transaction, the director now directly owns 28,778 shares in the company, valued at $672,541.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 18.28% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZEUS. SG Americas Securities LLC bought a new stake in shares of Olympic Steel in the 1st quarter valued at $109,000. Sun Life Financial INC bought a new stake in shares of Olympic Steel in the 2nd quarter valued at $171,000. New York State Common Retirement Fund increased its position in shares of Olympic Steel by 96.3% in the 1st quarter. New York State Common Retirement Fund now owns 21,197 shares of the basic materials company’s stock valued at $435,000 after buying an additional 10,397 shares in the last quarter. Globeflex Capital L P increased its position in shares of Olympic Steel by 13.5% in the 2nd quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock valued at $533,000 after buying an additional 3,100 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of Olympic Steel by 44.7% in the 2nd quarter. GSA Capital Partners LLP now owns 27,500 shares of the basic materials company’s stock valued at $561,000 after buying an additional 8,500 shares in the last quarter. Institutional investors and hedge funds own 66.64% of the company’s stock.
ZEUS stock opened at $18.96 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 3.67. The firm has a market capitalization of $229.74 million, a PE ratio of 16.07 and a beta of 1.72. Olympic Steel has a twelve month low of $18.10 and a twelve month high of $25.84.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Tuesday, September 4th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, August 31st. Olympic Steel’s dividend payout ratio is currently 6.78%.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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