FY2024 Earnings Estimate for Olympic Steel Issued By KeyCorp

Olympic Steel, Inc. (NASDAQ:ZEUS) – Analysts at KeyCorp issued their FY2024 earnings estimates for Olympic Steel in a research report issued to clients and investors on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the basic materials company will earn $1.70 per share for the year. KeyCorp has a “Overweight” rating and a $42.00 price objective 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) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.11 EPS for the quarter. The business had revenue of $470.00 million for the quarter. Olympic Steel had a return on equity of 3.79% and a net margin of 1.32%.

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

Olympic Steel Stock Up 2.3 %

Olympic Steel stock opened at $35.40 on Friday. The firm has a 50 day moving average price of $36.76 and a 200-day moving average price of $39.33. Olympic Steel has a twelve month low of $30.29 and a twelve month high of $73.49. The company has a market capitalization of $394.00 million, a P/E ratio of 15.53 and a beta of 1.53. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZEUS. Renaissance Technologies LLC increased its position in shares of Olympic Steel by 62.0% during 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 during the last quarter. XTX Topco Ltd purchased a new position in shares of Olympic Steel during the second quarter worth approximately $201,000. Public Sector Pension Investment Board lifted its holdings in shares of Olympic Steel by 6.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,595 shares of the basic materials company’s stock worth $968,000 after acquiring an additional 1,260 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Olympic Steel in the 2nd quarter valued at $398,000. Finally, SG Americas Securities LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at $245,000. 87.07% of the stock is currently owned by institutional investors.

About Olympic Steel

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.