Olympic Steel Inc. (ZEUS) Shares Down 1.9%
Olympic Steel Inc. (NASDAQ:ZEUS)’s share price fell 1.9% during trading on Tuesday . The stock traded as low as $20.51 and last traded at $20.51, with a volume of 82,626 shares changing hands. The stock had previously closed at $20.91.
Several brokerages recently commented on ZEUS. Jefferies Group reaffirmed a “hold” rating and issued a $25.00 price objective (up from $20.00) on shares of Olympic Steel in a research report on Friday, June 10th. Zacks Investment Research lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday. KeyCorp downgraded shares of Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price target on the stock. in a report on Friday, August 19th. Finally, TheStreet upgraded shares of Olympic Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
The firm’s market cap is $212.93 million. The firm has a 50-day moving average of $26.44 and a 200 day moving average of $21.10.
Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.39 by $0.07. During the same period last year, the firm posted ($0.08) EPS. The company earned $273.60 million during the quarter, compared to analysts’ expectations of $305.66 million. The firm’s revenue was down 13.2% compared to the same quarter last year. Analysts expect that Olympic Steel Inc. will post $0.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend 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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