$856.00 Million in Sales Expected for Ryerson Holding Corporation (RYI) This Quarter
Brokerages predict that Ryerson Holding Corporation (NYSE:RYI) will post $856.00 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Ryerson Holding Corporation’s earnings. The lowest sales estimate is $828.00 million and the highest is $881.93 million. Ryerson Holding Corporation posted sales of $735.10 million during the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The company is expected to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Ryerson Holding Corporation will report full year sales of $856.00 million for the current year, with estimates ranging from $3.27 billion to $3.44 billion. For the next financial year, analysts forecast that the firm will report sales of $3.52 billion per share, with estimates ranging from $3.42 billion to $3.72 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Ryerson Holding Corporation.
Ryerson Holding Corporation (NYSE:RYI) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.05. Ryerson Holding Corporation had a negative return on equity of 53.49% and a net margin of 0.48%. The business had revenue of $875.40 million during the quarter, compared to the consensus estimate of $875.13 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis.
Several research firms have recently weighed in on RYI. ValuEngine downgraded Ryerson Holding Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 16th. BidaskClub downgraded Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Ryerson Holding Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, TheStreet upgraded Ryerson Holding Corporation from a “d” rating to a “c” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Ryerson Holding Corporation currently has an average rating of “Hold” and an average target price of $14.60.
Shares of Ryerson Holding Corporation (RYI) opened at 7.70 on Monday. The stock has a 50 day moving average of $8.58 and a 200-day moving average of $10.21. The firm has a market capitalization of $286.26 million, a PE ratio of 19.11 and a beta of 2.11. Ryerson Holding Corporation has a 52 week low of $7.65 and a 52 week high of $16.85.
In related news, CEO Edward J. Lehner bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average price of $8.76 per share, for a total transaction of $43,800.00. Following the purchase, the chief executive officer now directly owns 115,470 shares in the company, valued at $1,011,517.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Burbach bought 4,800 shares of the business’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $8.50 per share, with a total value of $40,800.00. Following the purchase, the insider now owns 57,800 shares in the company, valued at $491,300. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 28,330 shares of company stock valued at $235,329. 0.76% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of RYI. Trellus Management Company LLC bought a new position in shares of Ryerson Holding Corporation during the second quarter valued at approximately $138,000. Ameriprise Financial Inc. bought a new position in shares of Ryerson Holding Corporation during the second quarter valued at approximately $138,000. HighTower Advisors LLC bought a new position in shares of Ryerson Holding Corporation during the first quarter valued at approximately $192,000. Capital Fund Management S.A. increased its position in shares of Ryerson Holding Corporation by 16.6% in the first quarter. Capital Fund Management S.A. now owns 16,428 shares of the basic materials company’s stock valued at $207,000 after buying an additional 2,335 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Ryerson Holding Corporation by 26.0% in the second quarter. Rhumbline Advisers now owns 18,139 shares of the basic materials company’s stock valued at $180,000 after buying an additional 3,740 shares in the last quarter. Institutional investors and hedge funds own 40.90% of the company’s stock.
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Ryerson Holding Corporation Company Profile
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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