Olympic Steel Stock (NASDAQ:ZEUS), Trade Ideas

Olympic Steel

Olympic Steel Inc provides metals processing and distribution services in the United States. The company operates in three reportable segments; specialty metals flat products, carbon flat products, and tubular and pipe products. It specializes in the processing and distribution of large volumes of carbon, aluminum, and stainless steel flat-rolled sheet, coils, plates, bars, and fabricated parts. The group serves various industries such as industrial machinery and equipment manufacturers, automobile manufacturers and suppliers, and transportation equipment manufacturers. The company generates majority of the revenue from carbon flat products.

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ZEUS

Top Stories for Feb. 23, 2024:

1. BTIG analyst Gregory Lewis downgraded Piedmont Lithium (NASDAQ: PLL) from Buy to Neutral following its fourth-quarter and full-year 2023 financial results.

Analyst Downgrades Piedmont Lithium; ATI Names New CEO; SunCoke CEO Retires; Olympic Steel Releases Q4, Annual Results: Friday&#39;s Top Mining Stories

Penny Stocks

FEAM

GLDG

GROY

METC

USGO

NAUFF

Top Stories for Jan. 19, 2024:

1. The boron and lithium company 5E Advanced Materials, Inc. (NASDAQ: FEAM) announced that it selected Fluor Corporation as its engineering, procurement and construction services provider.

5E Advanced Materials Hires Fluor; GoldMining Sells To NevGold; Ramaco Under Scrutiny; Olympic Steel Promotes Safety VP

Ivanhoe Electric at Minerals Forum; Cleveland-Cliffs Hikes Prices; Olympic Steel&#39;s New President; TMC Supports Exploration Act

Olympic Steel Inc

ZEUS NORTH AMER MNG CORP by Zeus North America Mining Corp.

Zeus North America Mining Corp

Thursday marks the last chance for investors to receive the next dividend payout from Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a quarterly dividend of 15 cents per share. On Friday, Olympic Steel will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 15 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own ZEUS as of the end of Thursday's session are eligible to receive the 15 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on March 15, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/ZEUS">See current stock movements Olympic Steel on Benzinga.</a>

Dividends

Olympic Steel's Ex-Dividend Date Is Friday, Here's What You Need To Know

Top Stories for Feb. 23, 2024:
1. BTIG analyst Gregory Lewis downgraded Piedmont Lithium (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pll#NASDAQ">PLL</a>) <a href="https://www.benzinga.com/quote/PLL/analyst-ratings">from Buy to Neutral</a> following its fourth-quarter and full-year 2023 financial results.
Piedmont Lithium&#39;s 2023 results included $39.8 million in revenue from 43.2k dry metric tons of spodumene concentrate sales, $5.7 million gross profit and a ramp-up at NAL with cost and production improvements anticipated in 2024.
Shipments are expected to transition to multi-year contracts and it is advancing permits in Ghana and North Carolina.
Piedmont ended 2023 with $71.7 million cash and $49.1 million from Q1 2024 share sales of Sayona Mining (ASX: SYA).
2. The Board of Directors of ATI Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ati#NYSE">ATI</a>) elected Chief Operating Officer Kimberly A. Fields as President and CEO, effective July 1, 2024.
Former CEO Robert S. Wetherbee commented, &ldquo;ATI is well-positioned, on a clear path to $5 billion in revenue and $1 billion in EBITDA by 2027. We have the capabilities, and the team is aligned to deliver.... Kim is ready to lead this organization. Her demonstrated operational and commercial success makes her proven to perform. As ATI&#39;s next CEO, Kim will further accelerate our growth and value creation.&quot;
3. SunCoke Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sxc#NYSE">SXC</a>) announced the upcoming retirement of CEO Michael G. Rippey on May 15, 2024.
Katherine T. Gates will replace him as CEO, while retaining her role as president and continuing as a Board member. Post-retirement, Rippey will serve as an advisor to the company.
4. Olympic Steel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zeus#NASDAQ">ZEUS</a>) announced fourth-quarter and full-year 2023 financial results.
The company&rsquo;s Pipe and Tube segment reported its second most profitable year and it increased its quarterly dividend by 20% from $0.125 to $0.15 per share.
Fourth-quarter net income was $7.4 million ($0.64 per share) with $16.7 million adjusted EBITDA and $489 million in sales.
Full-year net income stood at $44.5 million ($3.85 per share), with $97.6 million adjusted EBITDA and $2.2 billion in sales, including $8.3 million LIFO pre-tax income and $5.7 million in acquisition charges. This compares to the previous year&#39;s $90.9 million net income, $152 million adjusted EBITDA and $2.6 billion in sales.
Chief Executive Officer Richard T. Marabito commented, &quot;For the second year in a row, we withstood a hot-rolled carbon steel index pricing decline of more than 45% during the year&hellip;. Our Pipe and Tube business delivered its second most profitable year ever, and our Carbon business showed its resiliency in navigating the pricing pressures of 2023. While Specialty Metals faced industry-wide stainless steel pricing headwinds, this segment contributed consistent positive EBITDA for both the fourth quarter and the full year.&quot;
Now Read:&nbsp;<a href="https://www.benzinga.com/top-stories/24/02/37291215/fed-officials-confident-inflation-is-easing-but-want-more-evidence-before-cutting-rates">Fed Officials Confident Inflation Is Easing, But Want More Evidence Before Cutting Rates</a>
Photo: Shutterstock

Analyst Downgrades Piedmont Lithium; ATI Names New CEO; SunCoke CEO Retires; Olympic Steel Releases Q4, Annual Results: Friday's Top Mining Stories

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) reported its Q4 earnings results on Thursday, February 22, 2024 at 04:30 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Olympic Steel beat estimated earnings by 20.0%, reporting an EPS of $0.36 versus an estimate of $0.3.
Revenue was down $30.64 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $0.17 which was followed by a 6.59% drop in the share price the next day.
Here's a look at Olympic Steel's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.85</td>
<td>1.22</td>
<td>0.71</td>
<td>0.21</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.68</td>
<td>1.24</td>
<td>1.15</td>
<td>0.28</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>555.73M</td>
<td>636.41M</td>
<td>595.65M</td>
<td>568.63M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>526.41M</td>
<td>569.27M</td>
<td>573.08M</td>
<td>520.04M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Olympic Steel <a href="https://www.benzinga.com/quote/ZEUS/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Olympic Steel Q4 Earnings

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.30 by 20 percent. The company reported quarterly sales of $489.41 million which missed the analyst consensus estimate of $502.27 million by 2.56 percent. This is a 5.89 percent decrease over sales of $520.04 million the same period last year.

Earnings Beats

Earnings Misses

Olympic Steel Q4 2023 Adj EPS $0.36 Beats $0.30 Estimate, Sales $489.41M Miss $502.27M Estimate

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Earnings Scheduled For February 22, 2024

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-22. Here's what investors need to know before the announcement.
Analysts estimate that Olympic Steel will report an earnings per share (EPS) of $0.30. 
Olympic Steel bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.17, which was followed by a 6.59% drop in the share price the next day.
Here's a look at Olympic Steel's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.85</td>
<td>1.22</td>
<td>0.71</td>
<td>0.21</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.68</td>
<td>1.24</td>
<td>1.15</td>
<td>0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-6.59%</td>
<td>6.02%</td>
<td>4.86%</td>
<td>1.33%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708531318_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Olympic Steel were trading at $69.47 as of February 20. Over the last 52-week period, shares are up 50.51%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/ZEUS/earnings">To track all earnings releases for Olympic Steel visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Olympic Steel's Earnings Outlook

Top Stories for Jan. 19, 2024:
1. The boron and lithium company 5E Advanced Materials, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/feam#NASDAQ">FEAM</a>) announced that it selected Fluor Corporation as its engineering, procurement and construction services provider.
The company will lead 5E&rsquo;s FEL-2 and the upgrade of its current S-K 1300 technical document into a Pre-feasibility Study upon completion.
CEO of 5E Advanced Materials Susan Brennan said,&nbsp;&quot;We are thrilled to engage a world-class EPC firm like Fluor, as their extensive track record will serve to be invaluable to 5E throughout this next phase of execution. Additionally, the work being conducted by Fluor will play an important role in ultimately getting our 5E Boron Americas complex to the planned PFS-level study.&quot;
&quot;With 5E&rsquo;s recent successful recapitalization, and commencement of mining operations earlier this year, this relationship further advances 5E into the next stage of project development as we continue to work towards our vision of successfully building a large-scale Boron and Lithium operations,&quot; she added.
2. GoldMining Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gldg#NYSE">GLDG</a>) completed the sale of Nutmeg Mountain to NevGold Corporation (OTCM: NAUFF) for 10 million shares of NevGold, valued at $3 million.
The project was acquired by GoldMining in 2020 for $1.15 million, but the company&rsquo;s total consideration for the project was $9 million.
GoldMining now has $132 million of equity holdings in NevGold, U.S. GoldMining Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/usgo#NASDAQ">USGO</a>) and Gold Royalty Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/groy#NYSE">GROY</a>), with a 29.4% stake in NevGold, making it the largest shareholder.
GoldMining CEO Alastair Still said,&nbsp;&quot;By completing this transaction, the NevGold team benefits from synergies with their projects in neighboring Nevada and has completed the required expenditures and advanced the Project. Additionally, GoldMining retains future upside from the Project through the success-based contingent payments of up to $7.5 million on NevGold reaching certain milestones.&quot;
&quot;With many high-priority untested drill targets, we are excited to see NevGold continue to advance Nutmeg Mountain, as well as their other projects in Nevada and British Columbia. For GoldMining, the transaction allows us to remain focused on our strategic initiatives, while bolstering our balance sheet through our strategic investment in NevGold,&quot; he added.
3. The shareholder rights law firm Bragar Eagel &amp; Squire, P.C. is encouraging investors to contact the firm as it investigates claims against Ramaco Resources, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/metc#NASDAQ">METC</a>) to determine whether they violated federal securities laws.
Ramaco Resources was recently criticized in a Wolfpack Research report for overhyping the potential of its Brook Mine, claiming unprofitable mining prospects and possible negative extractability test results, impacting its stock value.
4. The national metals service center Olympic Steel Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zeus#NASDAQ">ZEUS</a>) promoted Anthony G. Dominic to vice president of Safety, Health and Environment, in which role he will lead Olympic Steel&rsquo;s safety programs and teams across all locations.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/01/36699753/s-p-500-nasdaq-jointly-hit-new-all-time-highs-as-ai-driven-stocks-defy-gravity-whats-driving-mar">S&amp;P 500, Nasdaq Jointly Hit New All-Time Highs As AI-Driven Stocks Defy Gravity: What&#39;s Driving Markets Friday?</a>
Photo: Shutterstock

Top Stories for Jan. 3, 2024:
1. The advanced mineral and electric metals exploration company Ivanhoe Electric (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ie#NYSE">IE</a>) announced that Executive Chairman&nbsp;Robert Friedland&nbsp;will deliver a keynote presentation at the Future Minerals Forum on Jan.10 at the King Abdulaziz International Conference Center in Riyadh, Saudi Arabia.
Additionally, President and Chief Executive Officer Taylor Melvin will join a panel discussion about building a robust and resilient mineral supply roadmap.
Ivanhoe Electric&rsquo;s Typhoon geophysical surveying system will be on display and deployed during the forum to support its joint venture with Saudi Arabian Mining Company Ma&rsquo;aden.
2. Cleveland-Cliffs Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clf#NYSE">CLF</a>), the largest flat-rolled steel producer in North America, announced that it is increasing spot market base prices for all of its carbon hot-rolled, cold-rolled and coated steel products, with the minimum price for hot-rolled steel at $1,150 per net ton.
3. The national metals service center Olympic Steel Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zeus#NASDAQ">ZEUS</a>) announced that it is promoting Zachary J. Siegal to the newly-created role of president of Manufactured Metal Products, where he will lead Olympic Steel&#39;s Manufactured Metal Products business group.
President and Chief Operating Officer Andrew S. Greiff commented on the promotion: &quot;Zach&#39;s appointment marks a significant milestone in Olympic Steel&#39;s history, as we distinguish our growth and continue to diversify into manufactured end-use products.&hellip; Zach has played an integral role in strategically identifying and acquiring high-quality, top-performing companies in the manufactured metals market. With his operational, financial and leadership experience and long history with the Company, he is well-suited to accelerate our growth of this business group.&quot;
4. TMC The Metals Company Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmc#NASDAQ">TMC</a>), which is involved in exploring undeveloped sources of critical battery metals, welcomed the 2024 National Defense Authorization Act signed into law by President Joe Biden.
The act mandates the Department of Defense to evaluate the processing of seafloor polymetallic nodules as a potential source of essential battery metals and submit a report by March 1, 2024.
This action is in response to Congressional calls for strengthening the supply chains of rare earth and critical minerals crucial for American auto and battery industries under the Inflation Reduction Act.
Now Read:&nbsp;<a href="https://www.benzinga.com/top-stories/24/01/36476652/fed-minutes-suggest-interest-rates-are-at-cycles-peak-but-put-imminent-cuts-in-doubt">Fed Minutes Suggest Interest Rates Are At Cycle&#39;s Peak, But Put Imminent Cuts In Doubt</a>
Photo: Shutterstock

Ivanhoe Electric at Minerals Forum; Cleveland-Cliffs Hikes Prices; Olympic Steel's New President; TMC Supports Exploration Act

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) reported quarterly earnings of $0.68 per share which missed the analyst consensus estimate of $0.85 by 20 percent. This is a 40.35 percent decrease over earnings of $1.14 per share from the same period last year. The company reported quarterly sales of $526.41 million which missed the analyst consensus estimate of $555.73 million by 5.28 percent. This is a 17.03 percent decrease over sales of $634.44 million the same period last year.

Olympic Steel Q3 2023 Adj EPS $0.68 Misses $0.85 Estimate, Sales $526.41M Miss $555.73M Estimate

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Earnings Scheduled For November 2, 2023

Olympic Steel Acquires Central Tube & Bar; Terms Not Disclosed

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Shares of steel stocks are trading lower in sympathy with Nucor, which issued weak Q3 guidance.

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Shares of metals and materials stocks are trading higher after China decreased reserve requirements to help support this economy. This could help boost demand.

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) reported quarterly earnings of $1.24 per share which beat the analyst consensus estimate of $1.22 by 1.64 percent. This is a 61.96 percent decrease over earnings of $3.26 per share from the same period last year. The company reported quarterly sales of $569.27 million which missed the analyst consensus estimate of $636.41 million by 10.55 percent. This is a 19.73 percent decrease over sales of $709.18 million the same period last year.

Olympic Steel Q2 EPS $1.24 Beats $1.22 Estimate, Sales $569.27M Miss $636.41M Estimate

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PowerShares Exchange Traded Fund Trust Dynamic Mid Cap Value Portfolio

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Earnings Scheduled For August 3, 2023

<h3>What is a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>Benzinga Insights has compiled a list of value stocks in the basic materials sector that may be worth watching:</h2>
<ol>
<li>Mosaic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) - P/E: 4.28</li>
<li>Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) - P/E: 8.72</li>
<li>Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>) - P/E: 7.33</li>
<li>Flexible Solutions Intl (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FSI#AMEX">FSI</a>) - P/E: 5.18</li>
<li>ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) - P/E: 3.6</li>
</ol>
Most recently, Mosaic reported earnings per share at $1.14, whereas in Q4 earnings per share sat at $1.74. Most recently, Olympic Steel reported earnings per share at $1.15, whereas in Q4 earnings per share sat at $0.28. The company's most recent dividend yield sits at 1.07%, which has increased by 0.01% from 1.06% last quarter. 
Most recently, Teck Resources reported earnings per share at $1.32, whereas in Q4 earnings per share sat at $0.8. Most recently, Flexible Solutions Intl reported earnings per share at $0.07, whereas in Q4 earnings per share sat at $0.22. ArcelorMittal has reported Q1 earnings per share at $1.27, which has increased by 323.33% compared to Q4, which was 0.3. Most recently, the company reported a dividend yield of 1.28%, which has increased by 0.51% from last quarter's yield of 0.77%.
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

A Look Into Basic Materials Sector Value Stocks

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) reported its Q1 earnings results on Thursday, May 4, 2023 at 04:30 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Olympic Steel beat estimated earnings by 61.97%, reporting an EPS of $1.15 versus an estimate of $0.71.
Revenue was down $123.26 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.07 which was followed by a 1.33% increase in the share price the next day.
Here's a look at Olympic Steel's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
<th>Q2 2022</th>
<th>Q1 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.21</td>
<td>0.93</td>
<td>2.72</td>
<td>2.16</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.28</td>
<td>1.14</td>
<td>3.26</td>
<td>3.10</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>568.63M</td>
<td>651.47M</td>
<td>653.94M</td>
<td>544.55M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>520.04M</td>
<td>634.44M</td>
<td>709.18M</td>
<td>696.33M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Olympic Steel <a href="https://www.benzinga.com/quote/ZEUS/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Olympic Steel Q1 Earnings

Olympic Steel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEUS#NASDAQ">ZEUS</a>) reported quarterly earnings of $1.15 per share which beat the analyst consensus estimate of $0.71 by 61.97 percent. This is a 62.9 percent decrease over earnings of $3.10 per share from the same period last year. The company reported quarterly sales of $573.08 million which missed the analyst consensus estimate of $595.65 million by 3.79 percent. This is a 17.70 percent decrease over sales of $696.33 million the same period last year.

Olympic Steel Q1 Adj. EPS $1.15 Beats $0.71 Estimate, Sales $573.08M Miss $595.65M Estimate

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Earnings Scheduled For May 4, 2023