$385.30 Million in Sales Expected for Olympic Steel, Inc. (NASDAQ:ZEUS) This Quarter
Brokerages expect Olympic Steel, Inc. (NASDAQ:ZEUS) to announce $385.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Olympic Steel’s earnings, with estimates ranging from $376.20 million to $394.40 million. Olympic Steel reported sales of $456.98 million in the same quarter last year, which indicates a negative year over year growth rate of 15.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Olympic Steel will report full-year sales of $1.62 billion for the current fiscal year, with estimates ranging from $1.61 billion to $1.64 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.56 billion, with estimates ranging from $1.51 billion to $1.62 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Olympic Steel.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. The business had revenue of $429.15 million for the quarter, compared to analysts’ expectations of $412.40 million. Olympic Steel had a return on equity of 6.23% and a net margin of 0.82%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share.
Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its holdings in Olympic Steel by 356.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,524 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Olympic Steel by 23.5% in the second quarter. JPMorgan Chase & Co. now owns 4,825 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 917 shares during the last quarter. Van ECK Associates Corp grew its holdings in Olympic Steel by 19.4% in the second quarter. Van ECK Associates Corp now owns 8,547 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 1,387 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Olympic Steel in the second quarter worth $179,000. Finally, Russell Investments Group Ltd. grew its holdings in Olympic Steel by 22.9% in the second quarter. Russell Investments Group Ltd. now owns 13,143 shares of the basic materials company’s stock worth $180,000 after purchasing an additional 2,453 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.
ZEUS traded down $0.06 on Friday, hitting $10.48. The company had a trading volume of 86,510 shares, compared to its average volume of 77,940. The firm has a market cap of $114.99 million, a P/E ratio of 2.99 and a beta of 2.12. Olympic Steel has a 12-month low of $10.02 and a 12-month high of $22.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.95 and a current ratio of 4.75. The company’s fifty day moving average is $12.32.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.08 annualized dividend and a dividend yield of 0.76%. Olympic Steel’s dividend payout ratio (DPR) is presently 2.28%.
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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