KeyCorp Weighs in on Olympic Steel, Inc.’s FY2022 Earnings (NASDAQ:ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUSGet Rating) – Stock analysts at KeyCorp increased their FY2022 EPS estimates for Olympic Steel in a research report issued on Monday, November 21st. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $7.60 per share for the year, up from their previous estimate of $7.16. The consensus estimate for Olympic Steel’s current full-year earnings is $7.45 per share. KeyCorp also issued estimates for Olympic Steel’s Q4 2022 earnings at $0.20 EPS and FY2023 earnings at $1.95 EPS.

Separately, StockNews.com upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating in a report on Monday, November 14th.

Olympic Steel Stock Performance

ZEUS opened at $37.81 on Thursday. Olympic Steel has a 52-week low of $19.92 and a 52-week high of $43.18. The company has a quick ratio of 1.29, a current ratio of 3.49 and a debt-to-equity ratio of 0.48. The company has a market cap of $420.83 million, a P/E ratio of 3.90 and a beta of 1.74. The firm’s 50-day moving average price is $26.93 and its 200-day moving average price is $28.39.

Hedge Funds Weigh In On Olympic Steel

Several hedge funds and other institutional investors have recently bought and sold shares of ZEUS. Comerica Bank acquired a new position in Olympic Steel in the 1st quarter worth approximately $343,000. Commonwealth Equity Services LLC acquired a new position in Olympic Steel in the 1st quarter worth approximately $297,000. Janney Montgomery Scott LLC boosted its position in Olympic Steel by 16.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,980 shares of the basic materials company’s stock worth $730,000 after purchasing an additional 2,642 shares in the last quarter. New York State Common Retirement Fund boosted its position in Olympic Steel by 244.6% in the 1st quarter. New York State Common Retirement Fund now owns 26,121 shares of the basic materials company’s stock worth $1,005,000 after purchasing an additional 18,541 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Olympic Steel by 1.4% in the 1st quarter. Royce & Associates LP now owns 308,190 shares of the basic materials company’s stock worth $11,853,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

Olympic Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.36 annualized dividend and a yield of 0.95%. Olympic Steel’s dividend payout ratio (DPR) is presently 3.72%.

About Olympic Steel

(Get Rating)

Olympic Steel, Inc engages in the processing, sale, and distribution of metal products. It operates through the following segments: Carbon Flat Products, Specialty Metals Flat Products, and Tubular and Pipe Products. The Carbon Flat Products segment includes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products, and fabricated parts.

See Also

Earnings History and Estimates for Olympic Steel (NASDAQ:ZEUS)

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