Brokerages Expect Olympic Steel, Inc. (ZEUS) Will Post Quarterly Sales of $306.05 Million
Equities research analysts predict that Olympic Steel, Inc. (NASDAQ:ZEUS) will announce $306.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Olympic Steel’s earnings. The highest sales estimate is $310.00 million and the lowest is $302.10 million. Olympic Steel reported sales of $254.90 million during the same quarter last year, which would suggest a positive year over year growth rate of 20.1%. The firm is scheduled to report its next earnings results on Thursday, March 1st.
On average, analysts expect that Olympic Steel will report full year sales of $306.05 million for the current fiscal year, with estimates ranging from $1.32 billion to $1.33 billion. For the next year, analysts anticipate that the firm will post sales of $1.42 billion per share, with estimates ranging from $1.41 billion to $1.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $331.44 million during the quarter, compared to the consensus estimate of $323.05 million. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in shares of Olympic Steel by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 39 shares during the last quarter. Rhumbline Advisers raised its position in shares of Olympic Steel by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 18,007 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 135 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Olympic Steel by 0.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 47,363 shares of the basic materials company’s stock worth $923,000 after purchasing an additional 196 shares during the last quarter. Citigroup Inc. raised its position in shares of Olympic Steel by 4.0% during the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 490 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Olympic Steel by 5.4% during the 2nd quarter. Capstone Asset Management Co. now owns 11,526 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 68.01% of the company’s stock.
Shares of Olympic Steel (NASDAQ ZEUS) traded up $0.67 during trading on Friday, hitting $21.71. 71,666 shares of the company’s stock were exchanged, compared to its average volume of 172,359. The firm has a market capitalization of $235.78, a P/E ratio of 21.71, a P/E/G ratio of 2.32 and a beta of 1.79. Olympic Steel has a 1-year low of $15.83 and a 1-year high of $28.48. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.54 and a current ratio of 4.23.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.08 annualized dividend and a dividend yield of 0.37%. Olympic Steel’s dividend payout ratio (DPR) is presently 7.21%.
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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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