Olympic Steel Inc. (ZEUS) Given “Hold” Rating at Jefferies Group
Several other equities research analysts have also recently commented on ZEUS. TheStreet raised Olympic Steel from a sell rating to a hold rating in a research note on Tuesday, June 28th. KeyCorp cut Olympic Steel from a sector weight rating to an underweight rating and set a $21.00 target price for the company. in a research note on Friday, August 19th. Finally, Zacks Investment Research cut Olympic Steel from a buy rating to a hold rating in a research note on Wednesday, August 24th.
Shares of Olympic Steel (NASDAQ:ZEUS) traded down 3.03% during midday trading on Friday, reaching $21.43. The company had a trading volume of 46,077 shares. The firm’s market cap is $234.85 million. Olympic Steel has a 52-week low of $7.98 and a 52-week high of $31.19. The company’s 50-day moving average is $20.88 and its 200-day moving average is $22.55.
Olympic Steel (NASDAQ:ZEUS) last released its 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 analyst estimates of $305.66 million. Olympic Steel had a negative net margin of 0.27% and a negative return on equity of 0.82%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period last year, the business posted ($0.08) earnings per share. Equities research analysts expect that Olympic Steel will post $0.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.36%. Olympic Steel’s dividend payout ratio (DPR) is presently -32.00%.
Large investors have recently made changes to their positions in the company. BlackRock Advisors LLC boosted its stake in shares of Olympic Steel by 12.5% in the second quarter. BlackRock Advisors LLC now owns 4,416 shares of the company’s stock worth $121,000 after buying an additional 490 shares during the period. KBC Group NV bought a new stake in shares of Olympic Steel during the second quarter worth approximately $142,000. Walleye Trading LLC boosted its stake in shares of Olympic Steel by 70.6% in the second quarter. Walleye Trading LLC now owns 5,800 shares of the company’s stock worth $158,000 after buying an additional 2,400 shares during the period. BlackRock Group LTD boosted its stake in shares of Olympic Steel by 12.6% in the second quarter. BlackRock Group LTD now owns 5,810 shares of the company’s stock worth $159,000 after buying an additional 650 shares during the period. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Olympic Steel during the second quarter worth approximately $187,000. 73.08% of the stock is owned by institutional investors and hedge funds.
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.
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