KeyCorp Analysts Raise Earnings Estimates for Ryerson Holding Co. (NYSE: RYI)
Ryerson Holding Co. (NYSE: RYI) – KeyCorp’s equity researchers increased their fiscal 2022 earnings estimates for Ryerson stocks in a research report released Monday, November 22nd. KeyCorp analyst P. Gibbs now expects the materials company to make $ 2.65 per share for the year, up from its previous estimate of $ 2.55.
Separately, Zacks Investment Research upgraded Ryerson stock from a “hold” rating to a “strong buy” rating and set a price target of $ 26.00 for the company in a research report on Tuesday, October 19.
NYSE RYI opened at $ 27.74 on Wednesday. Ryerson has a 52-week low of $ 10.63 and a 52-week high of $ 30.05. The company has a current metric of 1.90, a quick ratio of 0.94 and debt of 1.50. The stock has a market capitalization of $ 1.07 billion, a price to earnings ratio of 6.30, and a beta of 1.66. The company has a 50-day moving average price of $ 24.56 and a 200-day moving average price of $ 19.99. Ryerson (NYSE: RYI) last released its earnings results on Tuesday, November 2nd. The materials company reported $ 3.25 EPS for the quarter, beating the consensus estimate of $ 1.75 by $ 1.50. Ryerson had a net margin of 3.43% and a return on equity of 68.51%. For the same period last year, the company had earnings per share of $ 0.31.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 16. Shareholders of record on Monday, November 15th, will receive a dividend of $ 0.085. The ex-dividend date of this dividend is Friday November 12th. This is a boost from Ryerson’s previous quarterly dividend of $ 0.08. This equates to an annualized dividend of $ 0.34 and a dividend yield of 1.23%. Ryerson’s dividend payout ratio (DPR) is 7.73%.
Several institutional investors recently bought and sold shares in the company. BNP Paribas Arbitrage SA increased its stake in Ryerson shares by 400.0% in the third quarter. BNP Paribas Arbitrage SA now owns 3,700 shares in the materials company valued at $ 82,000 after purchasing an additional 2,960 shares last quarter. Metropolitan Life Insurance Co NY bought a new position in Ryerson stock valued at approximately $ 99,000 in the third quarter. Point72 Hong Kong Ltd bought a new position in Ryerson stock valued at approximately $ 54,000 in the third quarter. Cubist Systematic Strategies LLC increased its stake in Ryerson stock by 84.6% in the third quarter. Cubist Systematic Strategies LLC now owns 25,094 shares in the materials company valued at $ 559,000, after purchasing an additional 11,498 shares last quarter. Finally, the Royal Bank of Canada increased its stake in Ryerson shares by 14.3% in the third quarter. The Royal Bank of Canada now owns 6,897 shares of the basic materials company valued at $ 154,000 after purchasing an additional 864 shares last quarter. Institutional investors and hedge funds own 92.24% of the company’s stock.
Ryerson company profile
Ryerson Holding Corp. deals with the processing and distribution of industrial metals. It processes and sells products made of stainless steel, aluminum-carbon steel and alloy steels, as well as a limited range of nickel and red metals in various shapes and forms. The company serves end markets such as oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery; and also offers value-adding processing and manufacturing services such as sawing, slitting, punching, cutting to length, straightening, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, pipe production, polishing, shearing, forming, punching, punching, rolling the jacket sheet to radius.
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