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

Olympic Steel (NASDAQ:ZEUS) issued its quarterly earnings data on Thursday. The basic materials company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05, Zacks reports. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%.

Olympic Steel Stock Up 2.4 %

Shares of ZEUS traded up $0.86 during midday trading on Thursday, hitting $36.67. The company had a trading volume of 120,510 shares, compared to its average volume of 69,430. The company’s 50 day moving average price is $34.42 and its 200 day moving average price is $37.76. The stock has a market cap of $408.14 million, a price-to-earnings ratio of 16.08 and a beta of 1.52. Olympic Steel has a 52 week low of $30.29 and a 52 week high of $73.49. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. Olympic Steel’s payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

ZEUS has been the topic of a number of recent analyst reports. KeyCorp upgraded shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Wednesday, January 22nd. StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

About Olympic Steel

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.