Olympic Steel, Inc. (ZEUS) Expected to Post Quarterly Sales of $404.65 Million
Wall Street brokerages forecast that Olympic Steel, Inc. (NASDAQ:ZEUS) will announce sales of $404.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Olympic Steel’s earnings, with estimates ranging from $395.30 million to $414.00 million. Olympic Steel posted sales of $308.17 million in the same quarter last year, which suggests a positive year over year growth rate of 31.3%. The business is expected to report its next earnings results on Friday, March 1st.
On average, analysts expect that Olympic Steel will report full-year sales of $1.69 billion for the current financial year, with estimates ranging from $1.68 billion to $1.70 billion. For the next financial year, analysts expect that the firm will post sales of $1.69 billion, with estimates ranging from $1.62 billion to $1.77 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, November 8th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.36. Olympic Steel had a net margin of 2.46% and a return on equity of 13.22%. The business had revenue of $457.00 million during the quarter, compared to analyst estimates of $452.60 million. During the same period in the prior year, the business posted $0.20 earnings per share. The company’s revenue was up 37.9% on a year-over-year basis.
NASDAQ ZEUS traded up $0.11 during trading on Thursday, hitting $19.59. 60,700 shares of the company’s stock traded hands, compared to its average volume of 94,923. The company has a quick ratio of 1.50, a current ratio of 3.95 and a debt-to-equity ratio of 0.99. Olympic Steel has a 12-month low of $17.40 and a 12-month high of $25.84. The firm has a market cap of $221.49 million, a price-to-earnings ratio of 16.60 and a beta of 1.73.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, November 30th. Olympic Steel’s dividend payout ratio (DPR) is 6.78%.
Several large investors have recently modified their holdings of ZEUS. Wells Fargo & Company MN raised its stake in shares of Olympic Steel by 2.3% during the first quarter. Wells Fargo & Company MN now owns 116,555 shares of the basic materials company’s stock valued at $2,390,000 after acquiring an additional 2,665 shares during the last quarter. BlackRock Inc. raised its stake in shares of Olympic Steel by 1.0% during the first quarter. BlackRock Inc. now owns 1,340,374 shares of the basic materials company’s stock valued at $27,491,000 after acquiring an additional 13,905 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Olympic Steel by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 928,489 shares of the basic materials company’s stock valued at $19,043,000 after acquiring an additional 3,396 shares during the last quarter. Millennium Management LLC bought a new position in shares of Olympic Steel during the first quarter valued at about $930,000. Finally, Columbia Partners L L C Investment Management bought a new position in shares of Olympic Steel during the second quarter valued at about $1,212,000. 65.94% 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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