FY2017 EPS Estimates for Ryerson Holding Corporation (RYI) Cut by KeyCorp
Ryerson Holding Corporation (NYSE:RYI) – Research analysts at KeyCorp reduced their FY2017 EPS estimates for shares of Ryerson Holding Corporation in a research note issued to investors on Thursday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $0.80 for the year, down from their prior estimate of $0.95. KeyCorp also issued estimates for Ryerson Holding Corporation’s FY2018 earnings at $1.35 EPS.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Ryerson Holding Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. ValuEngine lowered shares of Ryerson Holding Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Ryerson Holding Corporation in a research note on Thursday, April 20th. BidaskClub lowered shares of Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, TheStreet raised shares of Ryerson Holding Corporation from a “d” rating to a “c” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.60.
Ryerson Holding Corporation (RYI) opened at 7.85 on Friday. The stock has a market capitalization of $291.83 million, a PE ratio of 19.48 and a beta of 2.11. The company’s 50-day moving average is $8.84 and its 200-day moving average is $10.31. Ryerson Holding Corporation has a 12 month low of $7.80 and a 12 month high of $16.85.
Ryerson Holding Corporation (NYSE:RYI) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.05. Ryerson Holding Corporation had a net margin of 0.48% and a negative return on equity of 53.49%. The business had revenue of $875.40 million for the quarter, compared to analysts’ expectations of $875.13 million. During the same period last year, the business earned $0.17 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans purchased a new stake in Ryerson Holding Corporation during the second quarter valued at approximately $2,754,000. Scopus Asset Management L.P. raised its stake in Ryerson Holding Corporation by 78.2% in the first quarter. Scopus Asset Management L.P. now owns 574,549 shares of the basic materials company’s stock valued at $7,239,000 after buying an additional 252,089 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ryerson Holding Corporation by 42.9% in the second quarter. Dimensional Fund Advisors LP now owns 782,418 shares of the basic materials company’s stock valued at $7,745,000 after buying an additional 234,747 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Ryerson Holding Corporation during the first quarter valued at approximately $2,210,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Ryerson Holding Corporation during the second quarter valued at approximately $1,648,000. 39.74% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Edward J. Lehner purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average cost of $8.76 per share, with a total value of $43,800.00. Following the completion of the transaction, the chief executive officer now owns 115,470 shares in the company, valued at approximately $1,011,517.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Burbach purchased 4,800 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $8.50 per share, with a total value of $40,800.00. Following the completion of the transaction, the insider now owns 57,800 shares of the company’s stock, valued at approximately $491,300. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 26,330 shares of company stock valued at $219,429. 0.76% of the stock is owned by insiders.
About Ryerson Holding Corporation
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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