Olympic Steel Inc. (ZEUS) Trading Down 2.7%
Olympic Steel Inc. (NASDAQ:ZEUS) was down 2.7% during trading on Tuesday . The stock traded as low as $19.64 and last traded at $19.64, with a volume of 116,686 shares changing hands. The stock had previously closed at $20.18.
Several equities research analysts recently commented on ZEUS shares. KeyCorp cut 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, August 19th. Zacks Investment Research raised 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. TheStreet raised Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Jefferies Group reissued a “hold” rating and issued a $25.00 target price (up previously from $20.00) on shares of Olympic Steel in a report on Friday, June 10th.
The firm’s 50-day moving average price is $25.22 and its 200-day moving average price is $21.45. The stock’s market cap is $213.81 million.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The firm earned $273.60 million during the quarter, compared to analysts’ expectations of $305.66 million. During the same period last year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was down 13.2% on a year-over-year basis. On average, analysts forecast that Olympic Steel Inc. will post $0.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend 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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