Olympic Steel (ZEUS) is Downgraded by KeyBanc Capital Mkts to Underweight

Olympic Steel (ZEUS) was Downgraded by KeyBanc Capital Mkts to ” Underweight”. Earlier the firm had a rating of “Sector Weight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Aug 19, 2016.

On the company’s financial health, Olympic Steel reported $0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.39. The company had revenue of $273.60 million for the quarter, compared to analysts expectations of $305.66 million. The company’s revenue was down -13.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Olympic Steel opened for trading at $25.2 and hit $25.4801 on the upside on Wednesday, eventually ending the session at $25.28, with a gain of 0.16% or 0.04 points. The heightened volatility saw the trading volume jump to 82,472 shares. Company has a market cap of $277 M.

In a different news, on Sep 15, 2015, Michael G Rippey (director) purchased 300 shares at $11.40 per share price. According to the SEC, on Sep 15, 2015, Dirk A Kempthorne (director) purchased 1,000 shares at $11.84 per share price. On May 7, 2015, Ratta Ralph M Jr Della (director) purchased 750 shares at $16.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Olympic Steel Inc. is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates in two segments: flat products and tubular and pipe products. The Company’s primary flat products focus is on the direct sale and distribution of processed carbon coated aluminum and stainless flat-rolled sheet coil and plate products. CTI is a subsidiary of the Company. The tubular and pipe products segment consists of the CTI business. Through its tubular and pipe products segment the Company distributes metals tubing pipe bar valve and fittings and fabricate pressure parts supplied to various industrial markets. The Company also performs toll processing of customer-owned metals. The Company sells certain products internationally primarily in North Central and South America.

Olympic Steel

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