Brokerages Anticipate Ryerson Holding Corp (RYI) Will Announce Quarterly Sales of $802.92 Million

Analysts predict that Ryerson Holding Corp (NYSE:RYI) will post $802.92 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Ryerson’s earnings. The highest sales estimate is $836.43 million and the lowest is $757.30 million. Ryerson posted sales of $682.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.7%. The company is scheduled to issue its next earnings results on Monday, March 12th.

On average, analysts expect that Ryerson will report full-year sales of $802.92 million for the current year, with estimates ranging from $3.26 billion to $3.39 billion. For the next financial year, analysts expect that the company will post sales of $3.59 billion per share, with estimates ranging from $3.43 billion to $3.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Ryerson.

Ryerson (NYSE:RYI) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $864.20 million for the quarter, compared to the consensus estimate of $853.35 million. Ryerson had a net margin of 0.26% and a negative return on equity of 33.95%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS.

Several research analysts recently issued reports on RYI shares. Zacks Investment Research downgraded shares of Ryerson from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 11th. BMO Capital Markets reissued a “hold” rating and set a $13.00 price objective on shares of Ryerson in a report on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and set a $11.00 price objective on shares of Ryerson in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Shares of Ryerson (RYI) traded up $0.15 during midday trading on Friday, reaching $12.60. 167,649 shares of the company traded hands, compared to its average volume of 175,062. The firm has a market cap of $468.83, a P/E ratio of 52.50 and a beta of 2.07. The company has a current ratio of 2.49, a quick ratio of 1.08 and a debt-to-equity ratio of -70.93. Ryerson has a 1-year low of $7.65 and a 1-year high of $14.65.

Large investors have recently made changes to their positions in the business. Highbridge Capital Management LLC bought a new stake in Ryerson during the 3rd quarter worth about $431,000. Swiss National Bank bought a new stake in Ryerson during the 2nd quarter worth about $275,000. Citadel Advisors LLC raised its holdings in Ryerson by 78.4% during the 2nd quarter. Citadel Advisors LLC now owns 65,705 shares of the basic materials company’s stock worth $651,000 after purchasing an additional 28,867 shares during the last quarter. First Trust Advisors LP bought a new stake in Ryerson during the 3rd quarter worth about $134,000. Finally, Alliancebernstein L.P. raised its holdings in Ryerson by 140.0% during the 2nd quarter. Alliancebernstein L.P. now owns 24,000 shares of the basic materials company’s stock worth $238,000 after purchasing an additional 14,000 shares during the last quarter. 39.28% of the stock is owned by hedge funds and other institutional investors.

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About Ryerson

Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.

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Earnings History and Estimates for Ryerson (NYSE:RYI)

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