Ryerson (NYSE:RYI) Releases Q2 2024 Earnings Guidance

Ryerson (NYSE:RYI) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.150-0.250 for the period, compared to the consensus estimate of 0.570. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.2 billion.

Ryerson Stock Down 7.1 %

Shares of Ryerson stock traded down $2.17 during trading on Tuesday, reaching $28.56. The company’s stock had a trading volume of 312,176 shares, compared to its average volume of 214,079. The company has a quick ratio of 0.95, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The company has a market cap of $971.61 million, a price-to-earnings ratio of 7.55 and a beta of 1.65. Ryerson has a 1-year low of $26.15 and a 1-year high of $44.70. The company has a 50-day simple moving average of $32.24 and a two-hundred day simple moving average of $31.72.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.49. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Ryerson had a return on equity of 16.33% and a net margin of 2.85%. During the same quarter last year, the firm earned ($0.65) EPS.

Ryerson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $0.188 dividend. This is a positive change from Ryerson’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, March 6th. This represents a $0.75 dividend on an annualized basis and a yield of 2.63%. Ryerson’s dividend payout ratio (DPR) is 18.43%.

Insider Buying and Selling

In other Ryerson news, insider Alagu Sundarrajan sold 2,593 shares of Ryerson stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $32.52, for a total transaction of $84,324.36. Following the completion of the transaction, the insider now owns 10,484 shares in the company, valued at approximately $340,939.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.88% of the stock is currently owned by company insiders.

About Ryerson

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