Olympic Steel Inc. (ZEUS) Stock Price Down 7.2%
Shares of Olympic Steel Inc. (NASDAQ:ZEUS) traded down 7.2% on Tuesday . The company traded as low as $28.75 and last traded at $28.87, with a volume of 59,594 shares changing hands. The stock had previously closed at $31.12.
A number of analysts have recently weighed in on the company. Jefferies Group upped their target price on Olympic Steel from $16.00 to $20.00 and gave the company a “hold” rating in a research report on Monday, May 2nd. TheStreet upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 28th.
The firm has a 50 day moving average of $26.76 and a 200 day moving average of $18.34. The firm’s market capitalization is $312.22 million.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Friday, April 29th. The company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.08. The business had revenue of $258.30 million for the quarter, compared to analysts’ expectations of $251.82 million. The business’s revenue was down 25.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 earnings per share. Analysts predict that Olympic Steel Inc. will post $0.92 earnings per share for the current year.
A hedge fund recently raised its stake in Olympic Steel stock. Morgan Stanley raised its position in shares of Olympic Steel Inc. (NASDAQ:ZEUS) by 572.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,492 shares of the company’s stock after buying an additional 130,675 shares during the period. Morgan Stanley owned 1.40% of Olympic Steel worth $1,778,000 as of its most recent SEC filing.
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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