Ryerson (NYSE:RYI) Issues Q2 2022 Earnings Guidance

Ryerson (NYSE:RYIGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $4.30-$4.49 for the period, compared to the consensus EPS estimate of $3.28. The company issued revenue guidance of $1.75 billion-$1.80 billion, compared to the consensus revenue estimate of $1.06 billion.

Separately, StockNews.com began coverage on Ryerson in a report on Thursday, March 31st. They set a strong-buy rating on the stock.

NYSE:RYI traded down $1.00 during trading hours on Monday, reaching $32.92. 11,187 shares of the stock were exchanged, compared to its average volume of 283,918. The company has a quick ratio of 1.01, a current ratio of 2.05 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $35.60 and a 200-day simple moving average of $28.60. Ryerson has a 52 week low of $13.39 and a 52 week high of $44.09. The stock has a market capitalization of $1.26 billion, a P/E ratio of 2.90 and a beta of 1.54.

Ryerson (NYSE:RYIGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.35. Ryerson had a return on equity of 90.74% and a net margin of 6.89%. During the same quarter in the previous year, the business posted $0.26 EPS. As a group, analysts expect that Ryerson will post 10.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be given a $0.125 dividend. This is a boost from Ryerson’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, June 1st. Ryerson’s dividend payout ratio (DPR) is currently 3.62%.

In other news, CAO Molly D. Kannan sold 5,000 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.66% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYI. BNP Paribas Arbitrage SA boosted its position in shares of Ryerson by 400.0% in the third quarter. BNP Paribas Arbitrage SA now owns 3,700 shares of the basic materials company’s stock worth $82,000 after buying an additional 2,960 shares during the period. Citigroup Inc. boosted its position in shares of Ryerson by 137.5% in the fourth quarter. Citigroup Inc. now owns 4,532 shares of the basic materials company’s stock worth $118,000 after buying an additional 2,624 shares during the period. Legal & General Group Plc boosted its position in shares of Ryerson by 215.8% in the fourth quarter. Legal & General Group Plc now owns 5,157 shares of the basic materials company’s stock worth $134,000 after buying an additional 3,524 shares during the period. Royal Bank of Canada boosted its position in Ryerson by 14.3% during the third quarter. Royal Bank of Canada now owns 6,897 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 864 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Ryerson by 7.3% during the fourth quarter. Deutsche Bank AG now owns 10,147 shares of the basic materials company’s stock valued at $264,000 after buying an additional 691 shares in the last quarter. 91.23% of the stock is owned by institutional investors and hedge funds.

About Ryerson (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.

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Earnings History and Estimates for Ryerson (NYSE:RYI)

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