Jefferies Changes Price on Olympic Steel (ZEUS)

May 4, 2012 1:21 PM EDT Send to a Friend
Get Alerts ZEUS Hot Sheet
Price: $19.88 +3.92%

Rating Summary:
    0 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 28 | New: 20
Trade ZEUS Now!
Join SI Premium – FREE
Jefferies analysts lowered their price target on Olympic Steel (NASDAQ: ZEUS) to $31 from $34 and maintained their BUY rating. They also revised their 2012 estimate to $2.15 (-$0.24) and their 2013 forecast to $3.50 (-$0.31).

Although Olympic Steel reported better than expected first quarter 2012 earnings, they were below Jefferies’ analysts estimates. Despite this, they expect Zeus to expand rapidly through equipment additions at various facilities.

In a company note, a Jefferies analyst said, “the shares are currently valued at 5.8x 2013 EPS and 4.8x 2013E EBITDA (using year-end 2012E net debt). Long term (1Q00-1Q12) median P/E and EBITDA multiples for the company were 10.1x and 6.6x, respectively. Our $31 price target values the shares at 6.1x 2013E EBITDA and based on estimated year-end 2012E debt levels.”

For an analyst ratings summary and ratings history on Olympic Steel click here. For more ratings news on Olympic Steel click here.

Shares of Olympic Steel closed at $20.15 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co, Earnings

Add Your Comment