KeyCorp Equities Analysts Decrease Earnings Estimates for Olympic Steel, Inc. (ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) – Analysts at KeyCorp decreased their FY2019 earnings per share estimates for Olympic Steel in a research report issued on Tuesday, May 21st. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $0.90 per share for the year, down from their prior forecast of $1.25.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The firm had revenue of $445.90 million for the quarter, compared to analyst estimates of $437.30 million. Olympic Steel had a net margin of 1.58% and a return on equity of 11.24%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS.

A number of other analysts also recently weighed in on ZEUS. ValuEngine raised shares of Olympic Steel from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Singular Research reissued a “buy” rating on shares of Olympic Steel in a research report on Wednesday, March 13th. Finally, Zacks Investment Research raised shares of Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 27th.

NASDAQ:ZEUS opened at $13.12 on Friday. The company has a market cap of $147.80 million, a price-to-earnings ratio of 3.74 and a beta of 2.06. The company has a debt-to-equity ratio of 1.09, a current ratio of 4.34 and a quick ratio of 1.69. Olympic Steel has a fifty-two week low of $13.08 and a fifty-two week high of $24.23.

A number of large investors have recently added to or reduced their stakes in ZEUS. BlackRock Inc. increased its position in Olympic Steel by 6.1% during the 4th quarter. BlackRock Inc. now owns 1,572,866 shares of the basic materials company’s stock valued at $22,445,000 after purchasing an additional 89,864 shares during the period. Morgan Stanley boosted its holdings in shares of Olympic Steel by 52.1% during the 1st quarter. Morgan Stanley now owns 253,521 shares of the basic materials company’s stock worth $4,024,000 after buying an additional 86,821 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc now owns 753,929 shares of the basic materials company’s stock worth $15,735,000 after buying an additional 84,066 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 753,929 shares of the basic materials company’s stock worth $15,735,000 after buying an additional 84,066 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Olympic Steel during the 4th quarter worth approximately $888,000. 65.61% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Richard T. Marabito bought 5,320 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average price of $18.95 per share, with a total value of $100,814.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 18.74% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, May 31st. Olympic Steel’s dividend payout ratio is presently 2.28%.

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.

Further Reading: Book Value Per Share in Stock Trading

Earnings History and Estimates for Olympic Steel (NASDAQ:ZEUS)

Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.