$794.53 Million in Sales Expected for Ryerson Holding Corp (RYI) This Quarter
Wall Street analysts expect Ryerson Holding Corp (NYSE:RYI) to report $794.53 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ryerson’s earnings, with the lowest sales estimate coming in at $757.30 million and the highest estimate coming in at $820.96 million. Ryerson reported sales of $682.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.5%. The company is expected to announce its next quarterly earnings report on Monday, March 12th.
According to Zacks, analysts expect that Ryerson will report full-year sales of $794.53 million for the current year, with estimates ranging from $3.26 billion to $3.38 billion. For the next fiscal year, analysts expect that the company will post sales of $3.51 billion per share, with estimates ranging from $3.43 billion to $3.59 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Ryerson.
Ryerson (NYSE:RYI) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $864.20 million for the quarter, compared to analyst estimates of $853.35 million. Ryerson had a net margin of 0.26% and a negative return on equity of 33.95%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of RYI. Rhumbline Advisers grew its holdings in shares of Ryerson by 26.0% in the 2nd quarter. Rhumbline Advisers now owns 18,139 shares of the basic materials company’s stock worth $180,000 after purchasing an additional 3,740 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ryerson by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 77,526 shares of the basic materials company’s stock worth $768,000 after purchasing an additional 3,281 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Ryerson in the 2nd quarter worth about $1,476,000. Victory Capital Management Inc. grew its holdings in shares of Ryerson by 51.4% in the 2nd quarter. Victory Capital Management Inc. now owns 118,700 shares of the basic materials company’s stock worth $1,175,000 after purchasing an additional 40,312 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in shares of Ryerson in the 2nd quarter worth about $372,000. 39.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ryerson (NYSE RYI) traded down $0.15 during trading on Thursday, reaching $10.50. 127,500 shares of the company’s stock traded hands, compared to its average volume of 147,150. The company has a market cap of $390.36, a price-to-earnings ratio of 45.65 and a beta of 2.07. The company has a debt-to-equity ratio of -70.93, a current ratio of 2.49 and a quick ratio of 1.08. Ryerson has a 12-month low of $7.65 and a 12-month high of $14.85.
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Ryerson 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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