Olympic Steel, Inc. (NASDAQ:ZEUS) to Post FY2019 Earnings of $0.48 Per Share, Jefferies Financial Group Forecasts

Olympic Steel, Inc. (NASDAQ:ZEUS) – Equities researchers at Jefferies Financial Group dropped their FY2019 earnings per share (EPS) estimates for shares of Olympic Steel in a report released on Wednesday, October 16th. Jefferies Financial Group analyst M. Englert now expects that the basic materials company will post earnings per share of $0.48 for the year, down from their prior forecast of $0.57. Jefferies Financial Group also issued estimates for Olympic Steel’s Q4 2019 earnings at $0.03 EPS, FY2021 earnings at $0.95 EPS, FY2022 earnings at $1.52 EPS and FY2023 earnings at $1.88 EPS.

Several other research firms have also recently weighed in on ZEUS. Zacks Investment Research raised shares of Olympic Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. ValuEngine cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday.

NASDAQ:ZEUS opened at $14.56 on Monday. Olympic Steel has a 1-year low of $9.99 and a 1-year high of $21.41. The company has a current ratio of 4.75, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $13.65. The stock has a market capitalization of $159.13 million, a PE ratio of 4.15 and a beta of 2.16.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Olympic Steel had a net margin of 0.82% and a return on equity of 6.23%. The business had revenue of $429.15 million during the quarter, compared to analysts’ expectations of $412.40 million. During the same period last year, the business earned $1.49 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis.

Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of Olympic Steel by 3.1% during the 1st quarter. Nordea Investment Management AB now owns 66,800 shares of the basic materials company’s stock worth $1,060,000 after buying an additional 2,000 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of Olympic Steel by 25.8% during the 2nd quarter. WINTON GROUP Ltd now owns 50,311 shares of the basic materials company’s stock worth $687,000 after buying an additional 10,309 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Olympic Steel by 4.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,590 shares of the basic materials company’s stock worth $295,000 after buying an additional 934 shares in the last quarter. Strs Ohio raised its position in shares of Olympic Steel by 7.6% during the 2nd quarter. Strs Ohio now owns 35,300 shares of the basic materials company’s stock worth $481,000 after buying an additional 2,500 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Olympic Steel by 39.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 87,010 shares of the basic materials company’s stock worth $1,187,000 after buying an additional 24,770 shares in the last quarter. 67.05% of the stock is owned by institutional investors and hedge funds.

About Olympic Steel

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.

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

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