Radius Recycling (NASDAQ:RDUS) Posts Earnings Results, Beats Estimates By $0.07 EPS

Radius Recycling (NASDAQ:RDUS) released its earnings results on Tuesday. The basic materials company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.07, Briefing.com reports. The company had revenue of $673.92 million during the quarter, compared to analysts’ expectations of $693.90 million. Radius Recycling had a negative return on equity of 5.89% and a negative net margin of 10.28%. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS.

Radius Recycling Stock Performance

Shares of NASDAQ:RDUS opened at $15.88 on Thursday. The stock has a fifty day simple moving average of $16.81 and a two-hundred day simple moving average of $21.17. Radius Recycling has a 12-month low of $12.69 and a 12-month high of $36.64. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Monday, July 22nd. Radius Recycling’s payout ratio is -32.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RDUS shares. StockNews.com upgraded Radius Recycling from a “sell” rating to a “hold” rating in a research note on Wednesday. Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 30th.

Radius Recycling Company Profile

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.