Brokerages Anticipate Ryerson Holding Corp (RYI) Will Post Quarterly Sales of $1.20 Billion

Wall Street brokerages forecast that Ryerson Holding Corp (NYSE:RYI) will announce sales of $1.20 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Ryerson’s earnings. The lowest sales estimate is $1.18 billion and the highest is $1.21 billion. Ryerson reported sales of $1.06 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Ryerson will report full year sales of $4.73 billion for the current financial year, with estimates ranging from $4.50 billion to $4.85 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.70 billion, with estimates ranging from $4.22 billion to $4.93 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ryerson.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Ryerson had a return on equity of 76.79% and a net margin of 2.66%.

RYI has been the subject of several recent research reports. Zacks Investment Research cut shares of Ryerson from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 30th. ValuEngine upgraded shares of Ryerson from a “strong sell” rating to a “sell” rating in a research report on Friday, March 15th. Finally, Deutsche Bank cut shares of Ryerson from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a research report on Wednesday, April 10th.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. increased its position in shares of Ryerson by 9.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 313,924 shares of the basic materials company’s stock worth $1,990,000 after buying an additional 26,966 shares during the period. Vanguard Group Inc increased its position in shares of Ryerson by 1.2% during the third quarter. Vanguard Group Inc now owns 808,617 shares of the basic materials company’s stock worth $9,137,000 after buying an additional 9,565 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Ryerson by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 54,248 shares of the basic materials company’s stock worth $343,000 after buying an additional 4,224 shares during the period. BlackRock Inc. increased its position in shares of Ryerson by 24.1% during the third quarter. BlackRock Inc. now owns 1,712,097 shares of the basic materials company’s stock worth $19,347,000 after buying an additional 332,254 shares during the period. Finally, Penn Capital Management Co. Inc. increased its position in shares of Ryerson by 5.8% during the fourth quarter. Penn Capital Management Co. Inc. now owns 361,851 shares of the basic materials company’s stock worth $2,294,000 after buying an additional 19,984 shares during the period. Institutional investors own 37.16% of the company’s stock.

NYSE RYI traded down $0.26 on Friday, hitting $9.91. The company’s stock had a trading volume of 27,062 shares, compared to its average volume of 132,305. The company has a debt-to-equity ratio of 10.69, a quick ratio of 1.01 and a current ratio of 2.34. Ryerson has a 1-year low of $5.99 and a 1-year high of $12.95. The stock has a market cap of $377.08 million, a P/E ratio of 9.26 and a beta of 1.94.

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, structurals, and tubing.

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