Jefferies Financial Group Comments on Olympic Steel, Inc.’s FY2020 Earnings (ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) – Investment analysts at Jefferies Financial Group reduced their FY2020 earnings per share estimates for shares of Olympic Steel in a research note issued on Tuesday, January 22nd. Jefferies Financial Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $2.84 for the year, down from their previous estimate of $3.00.

Several other brokerages also recently weighed in on ZEUS. ValuEngine downgraded shares of Olympic Steel from a “sell” rating to a “strong sell” rating in a research report on Friday, September 28th. Zacks Investment Research upgraded shares of Olympic Steel from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th.



Shares of NASDAQ:ZEUS opened at $17.57 on Wednesday. The stock has a market capitalization of $208.28 million, a P/E ratio of 14.84 and a beta of 1.82. Olympic Steel has a fifty-two week low of $13.72 and a fifty-two week high of $25.84. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.50 and a current ratio of 3.95.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, November 8th. The basic materials company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.36. The firm had revenue of $457.00 million for the quarter, compared to the consensus estimate of $452.60 million. Olympic Steel had a net margin of 2.46% and a return on equity of 13.22%. Olympic Steel’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS.

Several hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in shares of Olympic Steel by 11.1% during the 4th quarter. Bank of Montreal Can now owns 10,432 shares of the basic materials company’s stock worth $150,000 after buying an additional 1,039 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Olympic Steel by 9.9% in the 3rd quarter. Legal & General Group Plc now owns 19,945 shares of the basic materials company’s stock worth $414,000 after purchasing an additional 1,798 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Olympic Steel by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 133,089 shares of the basic materials company’s stock worth $2,777,000 after purchasing an additional 3,662 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Olympic Steel by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 926,419 shares of the basic materials company’s stock worth $19,334,000 after purchasing an additional 4,186 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Olympic Steel by 5.1% in the 3rd quarter. Acadian Asset Management LLC now owns 216,964 shares of the basic materials company’s stock worth $4,528,000 after purchasing an additional 10,528 shares during the last quarter. Institutional investors own 65.43% of the company’s stock.

In related news, CFO Richard T. Marabito purchased 3,000 shares of the company’s stock in a transaction on Thursday, December 6th. The shares were bought at an average cost of $17.15 per share, for a total transaction of $51,450.00. Following the transaction, the chief financial officer now owns 33,614 shares of the company’s stock, valued at $576,480.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard A. Manson purchased 2,500 shares of the company’s stock in a transaction on Wednesday, November 28th. The shares were bought at an average price of $17.00 per share, for a total transaction of $42,500.00. Following the completion of the transaction, the vice president now directly owns 9,897 shares in the company, valued at approximately $168,249. The disclosure for this purchase can be found here. 18.28% of the stock is currently owned by insiders.

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: Price to Earnings Ratio (PE), For Valuing Stocks

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