Brokerages Expect Ryerson Holding Corporation (RYI) Will Post Quarterly Sales of $845.75 Million
Brokerages expect Ryerson Holding Corporation (NYSE:RYI) to report $845.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Ryerson Holding Corporation’s earnings. The highest sales estimate is $881.93 million and the lowest is $815.00 million. Ryerson Holding Corporation posted sales of $735.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Ryerson Holding Corporation will report full-year sales of $845.75 million for the current year, with estimates ranging from $3.26 billion to $3.44 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.50 billion per share, with estimates ranging from $3.42 billion to $3.72 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow 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 analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $875.40 million during the quarter, compared to analysts’ expectations of $875.13 million. Ryerson Holding Corporation had a negative return on equity of 53.49% and a net margin of 0.48%. Ryerson Holding Corporation’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share.
A number of brokerages have recently weighed in on RYI. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.25 target price on shares of Ryerson Holding Corporation in a research report on Thursday, September 7th. TheStreet raised Ryerson Holding Corporation from a “d” rating to a “c” rating in a research report on Monday, August 7th. BidaskClub lowered Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research lowered Ryerson Holding Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, ValuEngine lowered Ryerson Holding Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.05.
Shares of Ryerson Holding Corporation (RYI) opened at 8.62 on Friday. Ryerson Holding Corporation has a 52-week low of $7.65 and a 52-week high of $16.85. The stock has a market capitalization of $320.64 million, a P/E ratio of 21.40 and a beta of 2.11. The company has a 50 day moving average price of $8.41 and a 200-day moving average price of $9.96.
In other news, insider Michael Burbach bought 4,800 shares of the stock in a transaction dated Friday, August 11th. The shares were bought 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 directly owns 57,800 shares of the company’s stock, valued at $491,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 15,950 shares of company stock worth $130,716 over the last ninety days. 0.76% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RYI. Trellus Management Company LLC purchased a new stake in Ryerson Holding Corporation in the 2nd quarter valued at $138,000. Ameriprise Financial Inc. purchased a new stake in Ryerson Holding Corporation in the 2nd quarter valued at $138,000. Rhumbline Advisers raised its position in Ryerson Holding Corporation by 26.0% in the 2nd 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 during the last quarter. HighTower Advisors LLC purchased a new stake in Ryerson Holding Corporation in the 1st quarter valued at $192,000. Finally, Wells Fargo & Company MN raised its position in Ryerson Holding Corporation by 5.8% in the 2nd quarter. Wells Fargo & Company MN now owns 20,343 shares of the basic materials company’s stock valued at $202,000 after buying an additional 1,109 shares during the last quarter. 40.90% of the stock is owned by institutional investors and hedge funds.
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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