Olympic Steel, Inc. (NASDAQ:ZEUS) – Investment analysts at Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for Olympic Steel in a note issued to investors on Thursday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings per share of $0.10 for the quarter, up from their prior estimate of $0.02. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Olympic Steel’s Q4 2017 earnings at ($0.06) EPS, FY2017 earnings at $0.98 EPS and FY2018 earnings at $1.20 EPS.

Separately, Zacks Investment Research downgraded Olympic Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.00.

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Shares of Olympic Steel (NASDAQ ZEUS) opened at 18.10 on Monday. The stock has a 50 day moving average price of $18.24 and a 200 day moving average price of $19.84. Olympic Steel has a 12-month low of $15.83 and a 12-month high of $28.67. The firm has a market cap of $198.43 million, a P/E ratio of 27.59 and a beta of 1.73.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $356.20 million during the quarter, compared to the consensus estimate of $365 million. Olympic Steel had a return on equity of 2.82% and a net margin of 0.71%. During the same quarter in the prior year, the firm posted $0.32 EPS.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.08 annualized dividend and a yield of 0.44%. Olympic Steel’s dividend payout ratio (DPR) is currently 10.67%.

In related news, Director Michael G. Rippey purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average price of $17.10 per share, for a total transaction of $25,650.00. Following the completion of the acquisition, the director now owns 13,800 shares of the company’s stock, valued at approximately $235,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.29% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. State of Tennessee Treasury Department increased its stake in shares of Olympic Steel by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 8,563 shares of the basic materials company’s stock valued at $159,000 after buying an additional 1,292 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in shares of Olympic Steel during the fourth quarter valued at about $169,000. Comerica Bank increased its stake in shares of Olympic Steel by 4.6% in the first quarter. Comerica Bank now owns 10,011 shares of the basic materials company’s stock valued at $192,000 after buying an additional 438 shares during the period. Capstone Asset Management Co. increased its stake in shares of Olympic Steel by 3.5% in the first quarter. Capstone Asset Management Co. now owns 10,936 shares of the basic materials company’s stock valued at $203,000 after buying an additional 370 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Olympic Steel during the first quarter valued at about $234,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Olympic Steel Company Profile

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.

Earnings History and Estimates for Olympic Steel (NASDAQ:ZEUS)

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