FY2024 Earnings Estimate for Olympic Steel Issued By KeyCorp

Olympic Steel, Inc. (NASDAQ:ZEUS) – Analysts at KeyCorp issued their FY2024 earnings per share estimates for Olympic Steel in a report released on Tuesday, January 21st. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings of $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 released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.11 earnings per share for the quarter. The business had revenue of $470.00 million during the quarter. Olympic Steel had a return on equity of 3.79% and a net margin of 1.32%.

Separately, StockNews.com downgraded 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 company has a market capitalization of $394.00 million, a PE ratio of 15.53 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. Olympic Steel has a fifty-two week low of $30.29 and a fifty-two week high of $73.49. The firm has a 50 day moving average price of $36.76 and a 200 day moving average price of $39.34.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Olympic Steel in the third quarter valued at about $27,000. XTX Topco Ltd purchased a new position in shares of Olympic Steel during the 2nd quarter worth approximately $201,000. Point72 DIFC Ltd acquired a new stake in shares of Olympic Steel in the 3rd quarter valued at approximately $184,000. HighTower Advisors LLC purchased a new stake in shares of Olympic Steel in the third quarter valued at approximately $202,000. Finally, SG Americas Securities LLC acquired a new position in Olympic Steel during the third quarter worth $245,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, December 2nd. Olympic Steel’s dividend 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.