FY2017 Earnings Forecast for Olympic Steel, Inc. Issued By Jefferies Group (ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) – Investment analysts at Jefferies Group raised their FY2017 EPS estimates for Olympic Steel in a research note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will earn $1.30 per share for the year, up from their prior estimate of $1.29. Jefferies Group also issued estimates for Olympic Steel’s FY2019 earnings at $2.71 EPS.

Several other research analysts also recently weighed in on ZEUS. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research note on Friday, November 24th. Zacks Investment Research downgraded Olympic Steel from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 24th.

Shares of Olympic Steel (NASDAQ:ZEUS) opened at $22.25 on Wednesday. The stock has a market cap of $244.12, a P/E ratio of 20.05, a P/E/G ratio of 2.00 and a beta of 1.79. Olympic Steel has a fifty-two week low of $15.83 and a fifty-two week high of $27.93. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The firm had revenue of $331.44 million during the quarter, compared to analyst estimates of $323.05 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.02 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.36%. Olympic Steel’s dividend payout ratio is currently 7.21%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Olympic Steel by 12.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 934 shares during the last quarter. Algert Global LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at approximately $261,000. Crossmark Global Holdings Inc. bought a new position in shares of Olympic Steel during the 3rd quarter valued at approximately $264,000. PNC Financial Services Group Inc. lifted its position in Olympic Steel by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock worth $246,000 after buying an additional 39 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Olympic Steel by 4.0% in the second quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after buying an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

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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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