FY2024 Earnings Estimate for Olympic Steel Issued By KeyCorp

Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) - Analysts at KeyCorp issued their FY2024 EPS estimates for shares of Olympic Steel in a research report issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings of $1.70 per share for the year. KeyCorp currently has a "Overweight" rating and a $42.00 target price 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.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.11 EPS for the quarter. The company had revenue of $470.00 million during the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%.

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

Olympic Steel Stock Performance

NASDAQ ZEUS traded up $0.79 during trading hours on Friday, hitting $35.40. 93,182 shares of the stock were exchanged, compared to its average volume of 70,572. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The company has a market cap of $394.00 million, a price-to-earnings ratio of 15.53 and a beta of 1.53. Olympic Steel has a 12-month low of $30.29 and a 12-month high of $73.49. The stock has a 50-day moving average of $36.76 and a 200 day moving average of $39.34.

Hedge Funds Weigh In On Olympic Steel

A number of large investors have recently made changes to their positions in ZEUS. Renaissance Technologies LLC increased its stake in Olympic Steel by 62.0% in the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company's stock valued at $4,429,000 after purchasing an additional 37,798 shares in the last quarter. XTX Topco Ltd acquired a new stake in Olympic Steel in the second quarter valued at $201,000. Public Sector Pension Investment Board increased its position in shares of Olympic Steel by 6.2% in the second quarter. Public Sector Pension Investment Board now owns 21,595 shares of the basic materials company's stock valued at $968,000 after buying an additional 1,260 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Olympic Steel during the 2nd quarter worth $398,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Olympic Steel in the 3rd quarter worth about $245,000. Hedge funds and other institutional investors own 87.07% of the company's stock.

Olympic Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.60 annualized dividend and a dividend yield of 1.69%. Olympic Steel's payout ratio is currently 26.32%.

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.