Equities Analysts Issue Forecasts for Olympic Steel, Inc.’s Q3 2017 Earnings (ZEUS)
Olympic Steel, Inc. (NASDAQ:ZEUS) – KeyCorp issued their Q3 2017 earnings estimates for Olympic Steel in a research note issued on Wednesday. KeyCorp analyst P. Gibbs expects that the basic materials company will earn $0.20 per share for the quarter.
ZEUS has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “hold” rating on shares of Olympic Steel in a report on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Olympic Steel currently has an average rating of “Hold” and a consensus target price of $21.75.
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Shares of Olympic Steel (NASDAQ:ZEUS) opened at 16.73 on Monday. The company has a market capitalization of $183.48 million, a P/E ratio of 21.98 and a beta of 1.73. Olympic Steel has a 12-month low of $15.83 and a 12-month high of $28.67. The company’s 50 day moving average is $17.98 and its 200 day moving average is $19.30.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The business had revenue of $356.20 million during the quarter, compared to the consensus estimate of $365 million. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. During the same period in the prior year, the firm earned $0.32 EPS.
Several institutional investors have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new position in Olympic Steel during the first quarter valued at approximately $2,923,000. Marshall Wace North America L.P. bought a new position in Olympic Steel during the second quarter valued at approximately $1,961,000. Scopus Asset Management L.P. bought a new position in Olympic Steel during the first quarter valued at approximately $1,912,000. GSA Capital Partners LLP bought a new position in Olympic Steel during the second quarter valued at approximately $1,630,000. Finally, Prudential Financial Inc. increased its position in Olympic Steel by 206.5% in the second quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock valued at $1,946,000 after buying an additional 67,281 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
In related news, CFO Richard T. Marabito acquired 2,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $17.42 per share, for a total transaction of $34,840.00. Following the completion of the acquisition, the chief financial officer now directly owns 30,614 shares in the company, valued at $533,295.88. The purchase was disclosed in a filing with the SEC, which is available at this link. 18.29% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.02 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.08 annualized dividend and a dividend yield of 0.48%. Olympic Steel’s dividend payout ratio is currently 10.67%.
About Olympic Steel
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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