Analysts Expect Ryerson Holding Corp (RYI) Will Announce Quarterly Sales of $1.23 Billion

Wall Street brokerages expect Ryerson Holding Corp (NYSE:RYI) to report $1.23 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for Ryerson’s earnings, with estimates ranging from $1.19 billion to $1.26 billion. Ryerson posted sales of $941.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 30.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 1st.

On average, analysts expect that Ryerson will report full year sales of $4.75 billion for the current fiscal year, with estimates ranging from $4.50 billion to $5.00 billion. For the next financial year, analysts forecast that the company will post sales of $4.86 billion, with estimates ranging from $4.75 billion to $4.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Ryerson.

A number of equities analysts have recently issued reports on RYI shares. Zacks Investment Research upgraded shares of Ryerson from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, January 9th. ValuEngine raised shares of Ryerson from a “strong sell” rating to a “sell” rating in a research note on Friday, March 15th.

RYI stock traded down $0.05 during midday trading on Wednesday, hitting $9.18. The stock had a trading volume of 92,801 shares, compared to its average volume of 113,986. The stock has a market cap of $345.57 million, a P/E ratio of 8.58 and a beta of 1.98. The company has a debt-to-equity ratio of 14.84, a current ratio of 2.48 and a quick ratio of 1.07. Ryerson has a 52 week low of $5.99 and a 52 week high of $12.95.

In related news, Director Stephen P. Larson bought 20,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of $8.55 per share, with a total value of $171,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $342,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new position in shares of Ryerson during the fourth quarter valued at $63,000. Jefferies Group LLC acquired a new stake in shares of Ryerson during the 3rd quarter worth about $162,000. Wakefield Asset Management LLLP bought a new position in Ryerson during the 3rd quarter valued at about $222,000. Rhumbline Advisers lifted its holdings in Ryerson by 48.7% during the 4th quarter. Rhumbline Advisers now owns 20,940 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 6,860 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Ryerson by 15.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,175 shares of the basic materials company’s stock valued at $153,000 after buying an additional 3,189 shares in the last quarter. 37.38% of the stock is currently owned by institutional investors and hedge funds.

About Ryerson

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

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Earnings History and Estimates for Ryerson (NYSE:RYI)

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