FY2024 Earnings Estimate for Ryerson Issued By KeyCorp

Ryerson Holding Co. (NYSE:RYI) – Investment analysts at KeyCorp issued their FY2024 earnings estimates for Ryerson in a research note issued to investors on Tuesday, January 21st. KeyCorp analyst P. Gibbs forecasts that the basic materials company will earn ($0.45) per share for the year.

Ryerson Stock Performance

Shares of RYI opened at $20.49 on Friday. The company’s 50 day simple moving average is $21.66 and its 200-day simple moving average is $21.15. Ryerson has a 12-month low of $17.18 and a 12-month high of $36.15. The firm has a market cap of $652.67 million, a PE ratio of 33.59 and a beta of 1.59. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Ryerson had a return on equity of 2.66% and a net margin of 0.46%. The firm had revenue of $1.13 billion for the quarter. During the same quarter in the previous year, the company earned $1.00 EPS.

Ryerson Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.1875 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.75 dividend on an annualized basis and a yield of 3.66%. Ryerson’s dividend payout ratio is presently 122.95%.

Insider Activity

In related news, EVP Mark S. Silver sold 9,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $24.56, for a total value of $221,040.00. Following the transaction, the executive vice president now owns 107,664 shares in the company, valued at $2,644,227.84. The trade was a 7.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new position in Ryerson in the 2nd quarter valued at $39,000. Copeland Capital Management LLC purchased a new stake in shares of Ryerson in the third quarter valued at about $56,000. SG Americas Securities LLC purchased a new stake in shares of Ryerson in the third quarter valued at about $108,000. Point72 DIFC Ltd increased its stake in shares of Ryerson by 16.7% during the second quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 837 shares during the period. Finally, FMR LLC raised its holdings in Ryerson by 159.7% during the third quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 4,704 shares in the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ryerson Company Profile

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.