Olympic Steel Inc. (ZEUS) Trading Up 7.6%
Olympic Steel Inc. (NASDAQ:ZEUS)’s share price was up 7.6% during mid-day trading on Wednesday . The company traded as high as $23.81 and last traded at $23.68, with a volume of 145,305 shares traded. The stock had previously closed at $22.01.
ZEUS has been the subject of a number of analyst reports. Zacks Investment Research upgraded Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Saturday, May 7th. Jefferies Group reiterated a “hold” rating on shares of Olympic Steel in a research note on Wednesday. Finally, TheStreet upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
The firm’s market capitalization is $263.45 million. The company’s 50 day moving average price is $27.37 and its 200-day moving average price is $19.52.
Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.07. The business earned $273.60 million during the quarter, compared to the consensus estimate of $305.66 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, equities analysts predict that Olympic Steel Inc. will post $0.92 EPS for the current year.
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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