Brokerages expect that Olympic Steel, Inc. (NASDAQ:ZEUS) will announce ($0.21) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Olympic Steel’s earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.21). Olympic Steel posted earnings per share of $0.14 in the same quarter last year, which would indicate a negative year over year growth rate of 250%. The company is expected to report its next earnings report on Friday, February 21st.
On average, analysts expect that Olympic Steel will report full year earnings of $0.21 per share for the current fiscal year, with EPS estimates ranging from $0.20 to $0.22. For the next fiscal year, analysts anticipate that the company will post earnings of $0.96 per share, with EPS estimates ranging from $0.77 to $1.15. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Olympic Steel.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. ValuEngine downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th.
The company also recently announced a dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, November 29th. Olympic Steel’s dividend payout ratio (DPR) is 2.28%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZEUS. Vanguard Group Inc. lifted its position in Olympic Steel by 21.7% in the second quarter. Vanguard Group Inc. now owns 804,006 shares of the basic materials company’s stock worth $10,975,000 after purchasing an additional 143,100 shares during the period. BlackRock Inc. increased its holdings in shares of Olympic Steel by 6.0% in the second quarter. BlackRock Inc. now owns 1,576,674 shares of the basic materials company’s stock valued at $21,522,000 after buying an additional 89,028 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Olympic Steel by 27.0% in the second quarter. Invesco Ltd. now owns 242,498 shares of the basic materials company’s stock valued at $3,310,000 after buying an additional 51,541 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Olympic Steel by 39.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 87,010 shares of the basic materials company’s stock valued at $1,187,000 after buying an additional 24,770 shares in the last quarter. Finally, Voya Investment Management LLC bought a new position in shares of Olympic Steel in the third quarter valued at $314,000. Hedge funds and other institutional investors own 65.34% of the company’s stock.
Olympic Steel Company Profile
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.
Further Reading: Compound Interest
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.