Zacks: Analysts Expect Olympic Steel, Inc. (ZEUS) to Post $0.84 Earnings Per Share

Wall Street analysts predict that Olympic Steel, Inc. (NASDAQ:ZEUS) will post earnings per share of $0.84 for the current quarter, Zacks reports. Two analysts have made estimates for Olympic Steel’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.77. Olympic Steel reported earnings per share of $0.20 in the same quarter last year, which indicates a positive year-over-year growth rate of 320%. The company is expected to issue its next earnings report before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that Olympic Steel will report full year earnings of $3.07 per share for the current financial year, with EPS estimates ranging from $3.03 to $3.10. For the next financial year, analysts forecast that the firm will post earnings of $2.22 per share, with EPS estimates ranging from $2.02 to $2.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Olympic Steel.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, August 2nd. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. The firm had revenue of $453.00 million during the quarter, compared to analyst estimates of $445.00 million. Olympic Steel had a net margin of 2.04% and a return on equity of 9.63%. Olympic Steel’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS.

A number of research firms have issued reports on ZEUS. Zacks Investment Research lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. ValuEngine lowered shares of Olympic Steel from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Finally, BidaskClub lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th.

Olympic Steel stock traded down $0.36 during midday trading on Friday, reaching $18.90. 3,009 shares of the stock traded hands, compared to its average volume of 97,785. The company has a quick ratio of 1.37, a current ratio of 3.67 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $229.74 million, a price-to-earnings ratio of 16.33 and a beta of 1.72. Olympic Steel has a fifty-two week low of $18.10 and a fifty-two week high of $25.84.

In other news, Director Arthur F. Anton bought 10,000 shares of Olympic Steel stock in a transaction on Monday, August 6th. The stock was purchased at an average cost of $23.37 per share, with a total value of $233,700.00. Following the purchase, the director now directly owns 28,778 shares of the company’s stock, valued at approximately $672,541.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 18.28% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Olympic Steel in the 1st quarter worth approximately $109,000. Sun Life Financial INC acquired a new stake in shares of Olympic Steel in the 2nd quarter worth approximately $171,000. New York State Common Retirement Fund lifted its stake in shares of Olympic Steel by 96.3% in the 1st quarter. New York State Common Retirement Fund now owns 21,197 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 10,397 shares during the period. Globeflex Capital L P lifted its stake in shares of Olympic Steel by 13.5% in the 2nd quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock worth $533,000 after acquiring an additional 3,100 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Olympic Steel by 44.7% in the 2nd quarter. GSA Capital Partners LLP now owns 27,500 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 8,500 shares during the period. 66.64% of the stock is owned by hedge funds and other institutional investors.

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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