Olympic Steel (NASDAQ:ZEUS) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Olympic Steel (NASDAQ:ZEUS) announced its earnings results on Thursday. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05, Zacks reports. The firm had revenue of $418.78 million for the quarter, compared to analysts’ expectations of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%.

Olympic Steel Price Performance

Shares of ZEUS stock opened at $37.88 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The company has a market capitalization of $421.60 million, a P/E ratio of 19.23 and a beta of 1.52. The company’s 50-day simple moving average is $34.31 and its two-hundred day simple moving average is $37.72. Olympic Steel has a one year low of $30.29 and a one year high of $73.49.

Olympic Steel Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.16 dividend. This is an increase from Olympic Steel’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, March 3rd. Olympic Steel’s dividend payout ratio is currently 30.46%.

Wall Street Analyst Weigh In

ZEUS has been the topic of several recent research reports. KeyCorp upgraded shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 target price on the stock in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating in a report on Friday.

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.