Jefferies Group Brokers Lift Earnings Estimates for Olympic Steel, Inc. (ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) – Equities researchers at Jefferies Group upped their FY2018 earnings estimates for shares of Olympic Steel in a research note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $2.04 per share for the year, up from their previous estimate of $1.58.

A number of other equities analysts have also weighed in on ZEUS. KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th. Zacks Investment Research lowered shares of Olympic Steel from a “hold” rating to a “strong sell” rating in a research report on Friday, October 20th.

Olympic Steel (NASDAQ:ZEUS) traded up $1.33 during trading hours on Thursday, reaching $23.58. 155,300 shares of the company were exchanged, compared to its average volume of 101,512. Olympic Steel has a 1 year low of $15.83 and a 1 year high of $27.24. 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 stock has a market cap of $244.12, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.79.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $323.05 million. During the same period last year, the firm posted ($0.16) EPS. Olympic Steel’s quarterly revenue was up 23.5% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.02 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.34%. Olympic Steel’s dividend payout ratio (DPR) is 7.21%.

A number of large investors have recently bought and sold shares of ZEUS. Ameriprise Financial Inc. grew its position in Olympic Steel by 86.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 379,291 shares of the basic materials company’s stock valued at $8,344,000 after buying an additional 175,530 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Olympic Steel by 474.4% during the 3rd quarter. Wells Fargo & Company MN now owns 113,982 shares of the basic materials company’s stock worth $2,508,000 after purchasing an additional 94,137 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of Olympic Steel during the 3rd quarter worth $2,050,000. GSA Capital Partners LLP purchased a new stake in shares of Olympic Steel during the 2nd quarter worth $1,630,000. Finally, Prudential Financial Inc. boosted its position in shares of Olympic Steel by 206.5% during the 2nd quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock worth $1,946,000 after purchasing an additional 67,281 shares in 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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