Olympic Steel Inc. (NASDAQ:ZEUS) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued to investors on Tuesday. They presently have a $20.00 price objective on the stock, down from their prior price objective of $30.00. Macquarie’s target price indicates a potential downside of 22.99% from the stock’s previous close.
A number of other equities analysts have also commented on the stock. Jefferies Group restated a “hold” rating and issued a $18.00 price objective on shares of Olympic Steel in a research report on Friday, November 4th. Zacks Investment Research lowered shares of Olympic Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Finally, KeyCorp lowered shares of Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price objective for the company. in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.75.
Olympic Steel (NASDAQ:ZEUS) traded down 3.28% during midday trading on Tuesday, reaching $25.97. 58,238 shares of the company’s stock were exchanged. The stock’s market cap is $284.71 million. The firm has a 50 day moving average of $22.26 and a 200-day moving average of $23.56. Olympic Steel has a 12 month low of $7.98 and a 12 month high of $31.19.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.55. Olympic Steel had a negative net margin of 0.38% and a negative return on equity of 1.28%. The firm earned $268.30 million during the quarter, compared to the consensus estimate of $293.40 million. During the same quarter last year, the business posted ($0.05) earnings per share. Olympic Steel’s revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that Olympic Steel will post $0.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Tuesday, November 29th. Olympic Steel’s dividend payout ratio is currently -22.22%.
Large investors have recently made changes to their positions in the stock. Numeric Investors LLC increased its stake in shares of Olympic Steel by 924.0% in the second quarter. Numeric Investors LLC now owns 541,476 shares of the company’s stock worth $14,788,000 after buying an additional 488,596 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Olympic Steel by 201.4% in the second quarter. Acadian Asset Management LLC now owns 431,720 shares of the company’s stock worth $11,790,000 after buying an additional 288,483 shares in the last quarter. Matarin Capital Management LLC bought a new stake in shares of Olympic Steel during the third quarter worth $5,540,000. JPMorgan Chase & Co. increased its stake in shares of Olympic Steel by 7,587.9% in the second quarter. JPMorgan Chase & Co. now owns 253,239 shares of the company’s stock worth $6,917,000 after buying an additional 249,945 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Olympic Steel during the second quarter worth $2,111,000. 71.56% of the stock is currently owned by institutional investors and hedge funds.
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