Olympic Steel Inc. (ZEUS) Sees Strong Trading Volume
Olympic Steel Inc. (NASDAQ:ZEUS) saw strong trading volume on Friday . 377,347 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 161,611 shares.The stock last traded at $21.41 and had previously closed at $25.63.
Several analysts have recently commented on the company. Jefferies Group reissued a “hold” rating and issued a $25.00 price objective (up from $20.00) on shares of Olympic Steel in a research note on Friday, June 10th. Zacks Investment Research raised 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. KeyCorp downgraded Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price target for the company. in a research report on Friday. Finally, TheStreet raised Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th.
The firm’s market capitalization is $233.21 million. The company’s 50 day moving average price is $27.20 and its 200 day moving average price is $20.71.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.07. During the same quarter in the previous year, the company posted ($0.08) EPS. The company earned $273.60 million during the quarter, compared to the consensus estimate of $305.66 million. Olympic Steel’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, analysts anticipate that Olympic Steel Inc. will post $0.90 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.38%.
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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