Olympic Steel Inc. (ZEUS) Shares Down 3.9%
Olympic Steel Inc. (NASDAQ:ZEUS)’s share price dropped 3.9% during mid-day trading on Friday . The company traded as low as $24.34 and last traded at $24.39, with a volume of 58,844 shares. The stock had previously closed at $25.38.
ZEUS has been the subject of a number of research 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 report on Saturday, May 7th. Jefferies Group restated a “hold” rating on shares of Olympic Steel in a report on Wednesday, August 3rd. Finally, TheStreet upgraded Olympic Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
The company’s market capitalization is $264.55 million. The firm’s 50-day moving average is $27.25 and its 200 day moving average is $20.23.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.07. During the same period in the prior year, the firm posted ($0.08) EPS. The company earned $273.60 million during the quarter, compared to the consensus estimate of $305.66 million. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. Analysts anticipate that Olympic Steel Inc. will post $0.90 EPS for the current fiscal year.
The firm also recently disclosed 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. This represents a $0.08 dividend on an annualized basis and a yield of 0.33%. 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.