Equities analysts expect Olympic Steel, Inc. (NASDAQ:ZEUS) to post $437.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Olympic Steel’s earnings, with the highest sales estimate coming in at $454.37 million and the lowest estimate coming in at $420.70 million. Olympic Steel posted sales of $452.92 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that Olympic Steel will report full-year sales of $1.67 billion for the current year, with estimates ranging from $1.64 billion to $1.70 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.62 billion, with estimates ranging from $1.57 billion to $1.67 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.04). Olympic Steel had a return on equity of 11.24% and a net margin of 1.58%. The company had revenue of $445.90 million for the quarter, compared to analyst estimates of $437.30 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis.
Several brokerages recently issued reports on ZEUS. Zacks Investment Research upgraded Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Singular Research restated a “buy” rating on shares of Olympic Steel in a research report on Wednesday, March 13th. Finally, ValuEngine downgraded Olympic Steel from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 7th.
Shares of Olympic Steel stock traded up $0.20 during trading on Wednesday, hitting $13.65. 122,355 shares of the company were exchanged, compared to its average volume of 77,260. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.34 and a quick ratio of 1.69. Olympic Steel has a fifty-two week low of $12.09 and a fifty-two week high of $24.23. The stock has a market cap of $148.01 million, a PE ratio of 4.48 and a beta of 2.19. The stock has a 50 day moving average of $13.40.
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.08 annualized dividend and a yield of 0.59%. Olympic Steel’s payout ratio is currently 2.28%.
A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in Olympic Steel by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 15,017 shares of the basic materials company’s stock worth $214,000 after acquiring an additional 586 shares during the period. Nordea Investment Management AB grew its stake in Olympic Steel by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 64,800 shares of the basic materials company’s stock worth $924,000 after acquiring an additional 600 shares during the period. Bank of Montreal Can grew its stake in Olympic Steel by 11.1% in the 4th quarter. Bank of Montreal Can now owns 10,432 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 1,039 shares during the period. Strs Ohio grew its stake in Olympic Steel by 4.8% in the 1st quarter. Strs Ohio now owns 32,800 shares of the basic materials company’s stock worth $520,000 after acquiring an additional 1,500 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in Olympic Steel by 356.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 1,524 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.
Olympic Steel Company Profile
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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