Ryerson (NYSE:RYI) Issues Q2 2022 Earnings Guidance

Ryerson (NYSE:RYIGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. 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 assumed coverage on shares of Ryerson in a research report on Thursday, March 31st. They issued a strong-buy rating on the stock.

Shares of NYSE:RYI traded down $0.09 during midday trading on Monday, reaching $27.02. The company’s stock had a trading volume of 502,339 shares, compared to its average volume of 318,002. The firm has a 50 day moving average of $35.51 and a 200-day moving average of $28.73. The firm has a market capitalization of $1.04 billion, a P/E ratio of 2.44 and a beta of 1.54. The company has a quick ratio of 1.08, a current ratio of 2.05 and a debt-to-equity ratio of 0.75. Ryerson has a 12-month low of $13.39 and a 12-month high of $44.09.

Ryerson (NYSE:RYIGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The basic materials company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.92 by $0.35. Ryerson had a net margin of 6.89% and a return on equity of 90.74%. During the same quarter in the prior year, the business posted $0.26 EPS. On average, research analysts predict that Ryerson will post 10.4 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $0.50 annualized dividend and a yield of 1.85%. This is a boost from Ryerson’s previous quarterly dividend of $0.10. Ryerson’s dividend payout ratio is currently 3.62%.

In other Ryerson news, CAO Molly D. Kannan sold 5,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $23.90, for a total transaction of $119,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.66% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of RYI. BNP Paribas Arbitrage SA lifted its stake in shares of Ryerson by 400.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,700 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 2,960 shares during the period. Penserra Capital Management LLC bought a new stake in Ryerson during the 1st quarter worth approximately $104,000. Citigroup Inc. raised its stake in Ryerson by 137.5% during the 4th quarter. Citigroup Inc. now owns 4,532 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 2,624 shares during the period. US Bancorp DE raised its stake in Ryerson by 59.0% during the 1st quarter. US Bancorp DE now owns 3,640 shares of the basic materials company’s stock worth $127,000 after acquiring an additional 1,351 shares during the period. Finally, Legal & General Group Plc raised its stake in Ryerson by 215.8% during the 4th quarter. Legal & General Group Plc now owns 5,157 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 3,524 shares during the period. Hedge funds and other institutional investors own 91.23% of the company’s stock.

Ryerson Company Profile (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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