Wall Street analysts expect Olympic Steel, Inc. (NASDAQ:ZEUS) to report $306.05 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Olympic Steel’s earnings, with the lowest sales estimate coming in at $302.10 million and the highest estimate coming in at $310.00 million. Olympic Steel posted sales of $254.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.1%. The business is expected to announce its next earnings report on Thursday, March 1st.
According to Zacks, 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 report sales of $1.42 billion per share, with estimates ranging from $1.41 billion to $1.43 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $331.44 million for the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS.
A number of equities analysts have issued reports on ZEUS shares. KeyCorp restated a “hold” rating on shares of Olympic Steel in a report on Sunday, October 22nd. Zacks Investment Research cut Olympic Steel from a “hold” rating to a “strong sell” rating in a report on Friday, October 20th.
Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Olympic Steel by 12.6% during the second quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 934 shares during the period. Capstone Asset Management Co. raised its position in shares of Olympic Steel by 5.4% during the second 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 period. PNC Financial Services Group Inc. raised its position in shares of Olympic Steel by 0.3% during the second 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 period. Citigroup Inc. raised its position in shares of Olympic Steel by 4.0% during the second 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 period. Finally, Algert Global LLC acquired a new position in shares of Olympic Steel during the third quarter worth approximately $261,000. 68.01% of the stock is currently owned by institutional investors.
Olympic Steel (NASDAQ:ZEUS) opened at $20.70 on Friday. The stock has a market capitalization of $224.15, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.79. Olympic Steel has a twelve month low of $15.83 and a twelve month high of $28.48. The company has a current ratio of 4.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Thursday, November 30th. Olympic Steel’s payout ratio is 7.21%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Olympic Steel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.