Olympic Steel Expects Q2 2023 Earnings of $1.16 per Share

Oct 12, 2023

Equities researchers at KeyCorp have issued their Q2 2023 earnings estimates for Olympic Steel. They expect the company to post earnings per share of $1.16 for the quarter. The consensus estimate for Olympic Steel’s current full-year earnings is $3.60 per share. KeyCorp also issued estimates for Olympic Steel’s Q3 2023 earnings at $0.73 EPS and Q4 2023 earnings at $0.11 EPS.

Separately, StockNews.com upgraded Olympic Steel from a “hold” rating to a “buy” rating in a research report.

Olympic Steel opened at $53.32 on Friday and has a 50-day moving average of $47.10 and a 200-day moving average of $47.01. The company has a market capitalization of $593.61 million, a PE ratio of 9.71, and a beta of 1.79. It has a current ratio of 3.56, a quick ratio of 1.39, and a debt-to-equity ratio of 0.49. Olympic Steel has a 12-month low of $22.62 and a 12-month high of $58.84.

The company last posted its quarterly earnings data on Thursday, May 4th. The basic materials company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.88 by $0.27. Olympic Steel had a net margin of 2.61% and a return on equity of 13.10%. The business had revenue of $573.08 million during the quarter, compared to the consensus estimate of $596.60 million.

Olympic Steel also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.94%.

A number of hedge funds have recently modified their holdings of Olympic Steel. Hedge funds and other institutional investors own 82.19% of the company’s stock.

Olympic Steel, Inc. processes, distributes, and stores metal products in the United States and internationally. 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.