Ryerson Holding Co. Forecasted to Earn Q2 2023 Earnings of $1.30 Per Share (NYSE:RYI)

Posted by Defense World Staff on May 5th, 2023

Ryerson Holding Co. (NYSE:RYI – Get Rating) – Investment analysts at KeyCorp issued their Q2 2023 EPS estimates for shares of Ryerson in a research note issued on Tuesday, May 2nd. KeyCorp analyst P. Gibbs expects that the basic materials company will earn $1.30 per share for the quarter. The consensus estimate for Ryerson’s current full-year earnings is $3.45 per share. KeyCorp also issued estimates for Ryerson’s Q3 2023 earnings at $0.72 EPS, Q4 2023 earnings at $0.39 EPS and FY2023 earnings at $3.70 EPS.

RYI has been the topic of a number of other research reports. StockNews.com assumed coverage on shares of Ryerson in a research note on Thursday, March 16th. They set a “buy” rating on the stock. BMO Capital Markets lifted their price objective on shares of Ryerson from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Finally, TheStreet raised shares of Ryerson from a “c+” rating to a “b-” rating in a research note on Thursday, April 6th.

Ryerson Trading Down 6.6 %

Shares of Ryerson stock opened at $35.44 on Thursday. The company has a quick ratio of 1.04, a current ratio of 2.33 and a debt-to-equity ratio of 0.40. The company’s 50-day simple moving average is $36.80 and its 200-day simple moving average is $33.91. Ryerson has a 52-week low of $18.68 and a 52-week high of $41.89. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 3.52 and a beta of 1.72.

Ryerson (NYSE:RYI – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The basic materials company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($1.35). Ryerson had a return on equity of 48.31% and a net margin of 6.18%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.21 billion.

Institutional Trading of Ryerson

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new stake in shares of Ryerson during the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC lifted its position in Ryerson by 76.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,748 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 759 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Ryerson by 166.6% during the third quarter. Lazard Asset Management LLC now owns 2,189 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 1,368 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Ryerson in the second quarter worth $53,000. Finally, Wells Fargo & Company MN boosted its position in shares of Ryerson by 13.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,500 shares of the basic materials company’s stock valued at $76,000 after buying an additional 303 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Ryerson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a dividend of $0.18 per share. This is an increase from Ryerson’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, May 31st. This represents a $0.72 annualized dividend and a yield of 2.03%. Ryerson’s dividend payout ratio is 6.75%.

About Ryerson

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Ryerson Holding Corp. engages in the processing and distribution of industrial metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms. The firm serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery.

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