Olympic Steel Inc. (ZEUS) Trading Up 2.8%
Olympic Steel Inc. (NASDAQ:ZEUS) was up 2.8% during trading on Friday . The stock traded as high as $30.26 and last traded at $30.26, with a volume of 226,879 shares trading hands. The stock had previously closed at $29.45.
Several equities research analysts have commented on ZEUS shares. Zacks Investment Research upgraded shares of Olympic Steel from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 28th. Jefferies Group lowered shares of Olympic Steel from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Monday, March 21st. Finally, TheStreet upgraded shares of Olympic Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
The company’s market capitalization is $331.62 million. The stock has a 50 day moving average of $26.38 and a 200 day moving average of $17.95.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Friday, April 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.08. During the same quarter in the prior year, the firm earned $0.10 EPS. The company had revenue of $258.30 million for the quarter, compared to analysts’ expectations of $251.82 million. Olympic Steel’s quarterly revenue was down 25.3% compared to the same quarter last year. Equities research analysts expect that Olympic Steel Inc. will post $0.92 earnings per share for the current year.
An institutional investor recently raised its position in Olympic Steel stock. Morgan Stanley increased its stake in shares of Olympic Steel Inc. (NASDAQ:ZEUS) by 572.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,492 shares of the company’s stock after buying an additional 130,675 shares during the period. Morgan Stanley owned about 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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