KeyCorp Equities Analysts Raise Earnings Estimates for Ryerson Holding Co. (NYSE:RYI)

Ryerson Holding Co. (NYSE:RYIGet Rating) – Research analysts at KeyCorp upped their FY2022 EPS estimates for shares of Ryerson in a note issued to investors on Tuesday, April 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $10.40 per share for the year, up from their previous forecast of $9.15.

Separately, StockNews.com started coverage on Ryerson in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company.

Shares of RYI stock opened at $40.80 on Friday. The company has a market cap of $1.57 billion, a P/E ratio of 5.40 and a beta of 1.68. The stock has a 50 day simple moving average of $32.85 and a two-hundred day simple moving average of $27.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.01 and a current ratio of 2.12. Ryerson has a fifty-two week low of $13.39 and a fifty-two week high of $44.09.

Ryerson (NYSE:RYIGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The basic materials company reported $2.68 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.13. The business had revenue of $1.53 billion for the quarter. Ryerson had a net margin of 5.19% and a return on equity of 80.49%. During the same period last year, the company posted ($0.17) EPS.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Thursday, March 3rd were given a dividend of $0.10 per share. This is a boost from Ryerson’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Wednesday, March 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.98%. Ryerson’s payout ratio is presently 5.30%.

In related news, CAO Molly D. Kannan sold 5,000 shares of Ryerson stock in a transaction on Friday, February 25th. The stock was sold at an average price of $23.90, for a total transaction of $119,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.66% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Ryerson in the third quarter valued at $192,000. Atom Investors LP raised its stake in shares of Ryerson by 58.8% in the third quarter. Atom Investors LP now owns 38,949 shares of the basic materials company’s stock valued at $867,000 after buying an additional 14,427 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of Ryerson by 18.7% in the third quarter. Advisor Group Holdings Inc. now owns 20,735 shares of the basic materials company’s stock valued at $461,000 after buying an additional 3,261 shares during the period. Harvest Investment Services LLC bought a new stake in shares of Ryerson in the fourth quarter valued at $207,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Ryerson by 15.2% in the third quarter. Janney Montgomery Scott LLC now owns 12,628 shares of the basic materials company’s stock valued at $281,000 after buying an additional 1,662 shares during the period. Hedge funds and other institutional investors own 92.43% of the company’s stock.

Ryerson Company Profile (Get Rating)

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. 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.

Further Reading

Earnings History and Estimates for Ryerson (NYSE:RYI)

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