$1.11 Billion in Sales Expected for Ryerson Holding Corp (NYSE:RYI) This Quarter

Equities research analysts predict that Ryerson Holding Corp (NYSE:RYI) will announce sales of $1.11 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Ryerson’s earnings. Ryerson reported sales of $1.25 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 11.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 29th.

According to Zacks, analysts expect that Ryerson will report full-year sales of $4.58 billion for the current financial year, with estimates ranging from $4.55 billion to $4.59 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.47 billion, with estimates ranging from $4.20 billion to $4.58 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Ryerson.

Ryerson (NYSE:RYI) last issued its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.32). Ryerson had a return on equity of 56.51% and a net margin of 2.56%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue was up 14.0% on a year-over-year basis.

Several equities research analysts recently issued reports on RYI shares. Zacks Investment Research cut Ryerson from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 8th. ValuEngine cut Ryerson from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. BMO Capital Markets cut their price target on Ryerson from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Monday, August 26th. Finally, Deutsche Bank set a $10.00 price target on Ryerson and gave the company a “hold” rating in a research note on Thursday, July 11th.

Shares of RYI stock opened at $8.40 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 8.94. The stock has a market cap of $314.74 million, a P/E ratio of 7.85 and a beta of 2.01. The stock has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $8.27. Ryerson has a 1 year low of $5.99 and a 1 year high of $11.53.

Institutional investors and hedge funds have recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Ryerson during the second quarter valued at approximately $50,000. UBS Asset Management Americas Inc. acquired a new position in shares of Ryerson during the second quarter worth $86,000. Aperio Group LLC acquired a new position in shares of Ryerson during the second quarter worth $108,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ryerson during the second quarter worth $132,000. Finally, Man Group plc acquired a new position in shares of Ryerson during the second quarter worth $136,000. Institutional investors and hedge funds own 35.35% of the company’s stock.

Ryerson Company Profile

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structurals, and tubing.

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Earnings History and Estimates for Ryerson (NYSE:RYI)

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