Olympic Steel Inc. (ZEUS) Sees Unusually-High Trading Volume
Olympic Steel Inc. (NASDAQ:ZEUS) shares saw strong trading volume on Friday . 377,347 shares changed hands 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 research firms recently commented on ZEUS. KeyCorp cut shares of Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price objective on the stock. in a research report on Friday. Jefferies Group reaffirmed a “hold” rating on shares of Olympic Steel in a research report on Wednesday, August 3rd. TheStreet raised shares of Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Zacks Investment Research raised shares of Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Saturday, May 7th.
The company has a 50 day moving average of $27.03 and a 200 day moving average of $20.80. The firm’s market cap is $233.21 million.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The firm had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $305.66 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. Equities analysts anticipate that Olympic Steel Inc. will post $0.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, August 30th.
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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