Radius Recycling (NASDAQ:RDUS – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
Separately, Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 30th.
Get Our Latest Analysis on Radius Recycling
Radius Recycling Price Performance
Radius Recycling (NASDAQ:RDUS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.07. The company had revenue of $673.92 million for the quarter, compared to the consensus estimate of $693.90 million. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period last year, the company posted $0.67 EPS. As a group, research analysts anticipate that Radius Recycling will post -3.32 earnings per share for the current year.
Hedge Funds Weigh In On Radius Recycling
A number of hedge funds have recently made changes to their positions in RDUS. Moody National Bank Trust Division acquired a new stake in shares of Radius Recycling during the second quarter worth $345,000. Boston Partners acquired a new position in shares of Radius Recycling during the first quarter valued at about $279,000. Swedbank AB acquired a new stake in shares of Radius Recycling in the 1st quarter valued at about $1,437,000. California State Teachers Retirement System bought a new stake in Radius Recycling in the 1st quarter valued at about $555,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Radius Recycling during the 1st quarter worth approximately $4,667,000. 78.11% of the stock is currently owned by institutional investors.
About Radius Recycling
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.
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