Q4 2019 EPS Estimates for Olympic Steel, Inc. Boosted by Analyst (ZEUS)

Q4 2019 EPS Estimates for Olympic Steel, Inc. Boosted by Analyst (ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) – Research analysts at KeyCorp raised their Q4 2019 earnings estimates for shares of Olympic Steel in a research report issued on Sunday, May 5th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings of $0.31 per share for the quarter, up from their previous forecast of $0.24.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results 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 firm had revenue of $445.90 million for the quarter, compared to analyst estimates of $437.30 million. During the same period in the previous year, the company posted $0.70 EPS. Olympic Steel’s revenue was up 18.6% on a year-over-year basis.

Several other equities analysts have also issued reports on ZEUS. Zacks Investment Research raised Olympic Steel from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 27th. ValuEngine raised Olympic Steel from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 21st. Finally, Singular Research reaffirmed a “buy” rating on shares of Olympic Steel in a research report on Wednesday, March 13th.

ZEUS opened at $16.31 on Wednesday. Olympic Steel has a 12-month low of $13.72 and a 12-month high of $24.23. The company has a current ratio of 4.34, a quick ratio of 1.69 and a debt-to-equity ratio of 1.09. The stock has a market cap of $181.78 million, a P/E ratio of 4.65 and a beta of 2.06.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of 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 valued at $214,000 after acquiring an additional 586 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Olympic Steel by 0.9% in the 4th quarter. ClariVest Asset Management LLC now owns 64,800 shares of the basic materials company’s stock valued at $924,000 after acquiring an additional 600 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of 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 valued at $924,000 after acquiring an additional 600 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Olympic Steel by 6.2% in the 4th quarter. Arizona State Retirement System now owns 14,070 shares of the basic materials company’s stock valued at $201,000 after acquiring an additional 816 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of 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 valued at $150,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 64.91% of the company’s stock.

In related news, CEO Richard T. Marabito purchased 5,320 shares of Olympic Steel stock in a transaction on Tuesday, March 5th. The shares were bought at an average price of $18.95 per share, with a total value of $100,814.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 18.74% of the stock is owned by company insiders.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, May 31st. Olympic Steel’s dividend payout ratio is currently 2.28%.

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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