Other research analysts have also issued reports about the company. TheStreet raised Olympic Steel from a sell rating to a hold rating in a report on Tuesday, June 28th. Zacks Investment Research lowered Olympic Steel from a buy rating to a hold rating in a report on Wednesday, August 24th. Finally, KeyCorp lowered Olympic Steel from a sector weight rating to an underweight rating and set a $21.00 target price on the stock. in a report on Friday, August 19th.
Olympic Steel (NASDAQ:ZEUS) opened at 20.50 on Friday. Olympic Steel has a one year low of $7.98 and a one year high of $31.19. The stock’s market capitalization is $224.66 million. The stock’s 50 day moving average is $20.66 and its 200 day moving average is $22.72.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.07. Olympic Steel had a negative net margin of 0.27% and a negative return on equity of 0.82%. The company had revenue of $273.60 million for the quarter, compared to the consensus estimate of $305.66 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Olympic Steel’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, equities analysts forecast that Olympic Steel will post $0.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.39%. Olympic Steel’s dividend payout ratio is currently -32.00%.
A number of institutional investors have recently modified their holdings of ZEUS. Royal Bank of Canada boosted its position in shares of Olympic Steel by 1.4% in the first quarter. Royal Bank of Canada now owns 18,423 shares of the company’s stock worth $318,000 after buying an additional 258 shares in the last quarter. BlackRock Advisors LLC boosted its position 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Olympic Steel by 3.7% in the second quarter. PNC Financial Services Group Inc. now owns 14,431 shares of the company’s stock worth $394,000 after buying an additional 521 shares in the last quarter. BlackRock Group LTD boosted its position 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 in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Olympic Steel by 1.0% in the second quarter. Guggenheim Capital LLC now owns 77,229 shares of the company’s stock worth $2,109,000 after buying an additional 733 shares in the last quarter. 73.08% of the stock is currently owned by hedge funds and other institutional investors.
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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