2. Olympic Steel (ZEUS), U.S.-based steel service center, is mainly involved in the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel products. It acts as an intermediary between steel producers and manufacturers that require processed steel for their operations. The company will announce its first quarter results on April 29.
For the first quarter of 2011, net income is estimated at $4.07 million on sales of $256.2 million, as compared to $1.71 million recorded on $167.9 million sales for the same period in 2010, as per analysts polled by Bloomberg. Earnings per share are forecast at 39 cents for the quarter, a 141% increase from 2010 first quarter. The company's operating profit is seen rising by 89% to $6.30 million from $3.33 million in the year ago period.
Of the 7 analysts covering the stock, 14% recommend a buy while 71% suggest a hold. On an average, analysts polled by Bloomberg expect the stock to gain almost 22.2% to $37.0 from current levels over the next 12 months.