FY2024 Earnings Estimate for Olympic Steel Issued By KeyCorp

Olympic Steel, Inc. (NASDAQ:ZEUS) – KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Olympic Steel in a research report issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings per share of $1.70 for the year. KeyCorp has a “Overweight” rating and a $42.00 price target on the stock. The consensus estimate for Olympic Steel’s current full-year earnings is $1.55 per share. KeyCorp also issued estimates for Olympic Steel’s FY2025 earnings at $2.40 EPS.

Separately, StockNews.com cut Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

Olympic Steel Trading Up 2.3 %

Shares of ZEUS opened at $35.40 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. Olympic Steel has a 1-year low of $30.29 and a 1-year high of $73.49. The stock has a market cap of $394.00 million, a price-to-earnings ratio of 15.53 and a beta of 1.53. The firm has a 50 day simple moving average of $36.76 and a 200-day simple moving average of $39.34.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.11 earnings per share for the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%. The firm had revenue of $470.00 million during the quarter.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.15 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. Olympic Steel’s dividend payout ratio (DPR) is 26.32%.

Institutional Trading of Olympic Steel

A number of hedge funds have recently bought and sold shares of ZEUS. Jane Street Group LLC grew its stake in shares of Olympic Steel by 1,165.8% during the 3rd quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company’s stock valued at $7,884,000 after buying an additional 186,192 shares during the period. JPMorgan Chase & Co. boosted its holdings in Olympic Steel by 136.1% in the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company’s stock valued at $8,365,000 after acquiring an additional 123,632 shares during the last quarter. Walleye Capital LLC purchased a new stake in Olympic Steel during the third quarter valued at about $3,978,000. Assenagon Asset Management S.A. increased its stake in Olympic Steel by 1,020.4% during the third quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company’s stock worth $2,306,000 after acquiring an additional 53,857 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Olympic Steel by 62.0% in the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock worth $4,429,000 after purchasing an additional 37,798 shares during the period. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.