Brokerages expect Olympic Steel, Inc. (NASDAQ: ZEUS) to post sales of $ 595.40 million for the current quarter, according to Zacks. Two analysts have released earnings estimates for Olympic Steel, with the highest sales estimate at $ 605.50 million and the lower estimate at $ 585.30 million. Olympic Steel reported sales of $ 331.55 million in the same quarter last year, suggesting a positive year-over-year growth rate of 79.6%. The company is expected to announce its next quarterly earnings report on Thursday, February 24.
On average, analysts expect Olympic Steel to report annual sales of $ 2.27 billion for the current year, with estimates ranging from $ 2.24 billion to $ 2.29 billion. . For next year, analysts expect the company to report revenue of $ 1.92 billion, with estimates ranging from $ 1.77 billion to $ 2.06 billion. Zacks sales averages are an average based on a survey of sales analysts who track Olympic Steel.
Olympic Steel (NASDAQ: ZEUS) last released its quarterly earnings data on Thursday, November 4. The basic materials company reported earnings per share (EPS) of $ 4.09 for the quarter, beating the consensus estimate of $ 2.62 by $ 1.47. The company posted revenue of $ 668.47 million in the quarter, against analysts’ expectations of $ 645.35 million. Olympic Steel had a return on equity of 30.19% and a net margin of 4.85%.
In addition, Zacks Investment Research downgraded Olympic Steel’s rating from a “strong buy” rating to a “conservation” rating in a report released on Thursday, September 23.
ZEUS stock opened at $ 22.73 on Wednesday. Olympic Steel has a 12 month low of $ 13.02 and a 12 month high of $ 40.00. The company’s 50-day moving average price is $ 23.88. The company has a debt to equity ratio of 0.75, a quick ratio of 1.44, and a current ratio of 3.26. The stock has a market cap of $ 251.78 million, a P / E ratio of 2.67 and a beta of 1.67.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Wednesday, December 1 received a dividend of $ 0.02 per share. This represents a dividend of $ 0.08 on an annualized basis and a return of 0.35%. The ex-dividend date of this dividend was Tuesday, November 30. Olympic Steel’s payout ratio is currently 0.94%.
Separately, insider David A. Wolfort sold 1,700 shares of the company in a transaction dated Wednesday, November 24. The stock was sold for an average price of $ 23.50, for a total value of $ 39,950.00. The sale was disclosed in a filing with the SEC, accessible through this link. Additionally, insider David A. Wolfort sold 8,000 shares of the company in a trade dated Monday, November 22. The shares were sold for an average price of $ 23.90, for a total value of $ 191,200.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 15,869 shares of the company valued at $ 391,316. Company insiders own 17.40% of the company’s shares.
Institutional investors and hedge funds have recently changed their positions in the company. Harvest Fund Management Co. Ltd. increased its stake in Olympic Steel by 191.4% during the second quarter. Harvest Fund Management Co. Ltd. now owns 1,518 shares of the basic materials company valued at $ 46,000 after purchasing an additional 997 shares during the period. UBS Group AG increased its stake in Olympic Steel by 117.8% in the 3rd quarter. UBS Group AG now owns 1,686 shares of the basic materials company valued at $ 41,000 after acquiring an additional 912 shares during the period. Victory Capital Management Inc. purchased a new position in Olympic Steel during the second quarter valued at approximately $ 128,000. KBC Groupe NV acquired a new stake in Olympic Steel in the third quarter for a value of $ 108,000. Finally, Citigroup Inc. increased its stake in Olympic Steel by 410.4% in the second quarter. Citigroup Inc. now owns 4,828 shares of the basic materials company valued at $ 142,000 after purchasing an additional 3,882 shares in the last quarter. Hedge funds and other institutional investors hold 70.82% of the company’s shares.
About Olympic steel
Olympic Steel, Inc is engaged in the processing, sale and distribution of metal products. It operates in the following segments: carbon flat products, specialty metal flat products, and tubular and pipe products. Flat carbon products include large volumes of processed carbon and coated flat rolled sheets, coils and plates, and manufactured parts.
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