Olympic Steel Inc. (ZEUS) Shares Down 2.7%
Olympic Steel Inc. (NASDAQ:ZEUS)’s share price was down 2.7% during mid-day trading on Tuesday . The company traded as low as $19.64 and last traded at $19.64, with a volume of 116,686 shares. The stock had previously closed at $20.18.
A number of equities analysts have recently issued reports on ZEUS shares. Jefferies Group upped their price objective on Olympic Steel from $16.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, May 2nd. TheStreet upgraded Olympic Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. KeyCorp cut Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price objective for the company. in a report on Friday, August 19th. Finally, 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 report on Saturday, May 7th.
The firm’s 50 day moving average is $25.50 and its 200 day moving average is $21.46. The company’s market capitalization is $214.58 million.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm earned ($0.08) earnings per share. Olympic Steel’s revenue was down 13.2% compared to the same quarter last year. On average, equities analysts predict that Olympic Steel Inc. will post $0.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.08 annualized dividend and a dividend yield of 0.41%.
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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