Olympic Steel (NASDAQ:ZEUS) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other brokerages have also recently weighed in on ZEUS. Zacks Investment Research cut Olympic Steel from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 13th. KeyCorp reissued a “hold” rating on shares of Olympic Steel in a research note on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.50.
Olympic Steel (NASDAQ ZEUS) opened at $24.58 on Tuesday. The firm has a market capitalization of $269.68, a PE ratio of 22.14, a P/E/G ratio of 1.61 and a beta of 1.79. Olympic Steel has a 12 month low of $15.83 and a 12 month high of $27.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.23 and a quick ratio of 1.54.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The firm had revenue of $331.44 million for the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. Olympic Steel’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.16) EPS. analysts expect that Olympic Steel will post 1.27 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its stake in Olympic Steel by 47.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 101,237 shares of the basic materials company’s stock valued at $2,176,000 after acquiring an additional 32,725 shares in the last quarter. GSA Capital Partners LLP grew its stake in Olympic Steel by 35.4% during the 3rd quarter. GSA Capital Partners LLP now owns 113,300 shares of the basic materials company’s stock valued at $2,493,000 after acquiring an additional 29,600 shares in the last quarter. Algert Global LLC purchased a new position in Olympic Steel during the 3rd quarter valued at about $261,000. California Public Employees Retirement System grew its stake in Olympic Steel by 24.1% during the 3rd quarter. California Public Employees Retirement System now owns 68,900 shares of the basic materials company’s stock valued at $1,516,000 after acquiring an additional 13,400 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Olympic Steel by 474.4% during the 3rd quarter. Wells Fargo & Company MN now owns 113,982 shares of the basic materials company’s stock valued at $2,508,000 after acquiring an additional 94,137 shares in the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.
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Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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