KeyCorp analysts raise earnings estimates for Olympic Steel, Inc. (NASDAQ:ZEUS)


Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) – KeyCorp analysts raised their first-quarter 2022 EPS estimates for Olympic Steel shares in a research report released Tuesday, April 19. KeyCorp analyst P. Gibbs now expects the basic materials company to earn $2.41 per share for the quarter, up from its previous estimate of $2.35.

Olympic Steel (NASDAQ:ZEUS – Get Rating) last released quarterly earnings data on Thursday, February 24. The basic materials company reported earnings per share of $2.79 for the quarter. Olympic Steel had a net margin of 5.24% and a return on equity of 35.85%. The company had revenue of $624.59 million in the quarter. In the same quarter a year earlier, the company posted earnings per share of $0.14.

Separately, downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report released on Monday.

Olympic Steel stock opened at $42.46 on Thursday. The company’s 50-day simple moving average is $32.34 and its 200-day simple moving average is $26.78. Olympic Steel has a 52 week low of $19.92 and a 52 week high of $42.83. The company has a market capitalization of $472.33 million, a PE ratio of 4.04 and a beta of 1.63. The company has a debt ratio of 0.77, a quick ratio of 1.36 and a current ratio of 3.52.

A number of hedge funds have recently changed their positions in the stock. Ellevest Inc. increased its position in Olympic Steel by 86.9% in the first quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company valued at $42,000 after buying an additional 502 shares last quarter. UBS Group AG increased its stake in Olympic Steel shares by 117.8% in the third quarter. UBS Group AG now owns 1,686 shares of the basic materials company valued at $41,000 after acquiring 912 additional shares in the last quarter. Denali Advisors LLC acquired a new position in Olympic Steel stock in Q1 worth approximately $69,000. KBC Group NV acquired a new stake in Olympic Steel during the 3rd quarter for a value of approximately $108,000. Finally, Ritholtz Wealth Management acquired a new stake in Olympic Steel during the 1st quarter at a value of $210,000. 72.95% of the shares are currently held by institutional investors and hedge funds.

In other Olympic Steel news, insider David A. Wolfort sold 29,700 shares of Olympic Steel in a trade that took place on Tuesday, March 8. The stock was sold at an average price of $30.13, for a total transaction of $894,861.00. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, COO Andrew S. Greiff acquired 2,500 shares in a transaction dated Monday, March 14. The stock was purchased at an average price of $28.79 per share, for a total transaction of $71,975.00. Disclosure of this purchase can be found here. 15.73% of the shares are currently held by insiders of the company.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 received a dividend of $0.09. The ex-dividend date was Monday, February 28. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 0.85%. This is an increase from Olympic Steel’s previous quarterly dividend of $0.02. The dividend payout ratio (DPR) of Olympic Steel is currently 3.42%.

About Olympic Steel (Get a rating)

Olympic Steel, Inc processes, distributes and stocks metal products in the United States and around the world. It operates in three segments: Carbon Flat Products; Flat products in special metals; and tubular and piping products. The Carbon Flat Products segment sells and distributes carbon flat rolled and coated sheets, coil and plate products and fabricated parts.

See also

Earnings history and estimates for Olympic Steel (NASDAQ:ZEUS)

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