FY2016 Earnings Forecast for Ryerson Holding Corp. Issued By KeyCorp (RYI)
Ryerson Holding Corp. (NYSE:RYI) – Equities research analysts at KeyCorp decreased their FY2016 EPS estimates for Ryerson Holding Corp. in a research note issued on Sunday. KeyCorp analyst P. Gibbs now anticipates that the firm will post earnings of $1.15 per share for the year, down from their previous forecast of $1.18. KeyCorp also issued estimates for Ryerson Holding Corp.’s FY2017 earnings at $0.90 EPS.
Ryerson Holding Corp. (NYSE:RYI) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Ryerson Holding Corp. had a net margin of 0.18% and a negative return on equity of 14.34%.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Ryerson Holding Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Jefferies Group reaffirmed a “hold” rating and set a $14.50 price target (up previously from $10.00) on shares of Ryerson Holding Corp. in a research note on Friday, June 10th. BMO Capital Markets upped their price target on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the company a “market perform” rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.50.
Shares of Ryerson Holding Corp. (NYSE:RYI) opened at 8.81 on Tuesday. The company has a market cap of $326.84 million, a price-to-earnings ratio of 54.38 and a beta of 2.21. Ryerson Holding Corp. has a one year low of $2.53 and a one year high of $19.71. The firm has a 50-day moving average of $11.51 and a 200-day moving average of $11.90.
In other news, insider Michael Burbach acquired 2,800 shares of the business’s stock in a transaction on Friday, August 12th. The shares were acquired at an average price of $12.90 per share, for a total transaction of $36,120.00. Following the completion of the transaction, the insider now directly owns 37,800 shares of the company’s stock, valued at approximately $487,620. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kevin D. Richardson acquired 2,750 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were purchased at an average price of $12.00 per share, for a total transaction of $33,000.00. Following the transaction, the insider now directly owns 57,750 shares of the company’s stock, valued at $693,000. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Ryerson Holding Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 865,791 shares of the company’s stock worth $15,151,000 after buying an additional 14,939 shares during the period. JPMorgan Chase & Co. boosted its position in Ryerson Holding Corp. by 512,018.1% in the second quarter. JPMorgan Chase & Co. now owns 850,116 shares of the company’s stock worth $14,878,000 after buying an additional 849,950 shares during the period. Spark Investment Management LLC boosted its position in Ryerson Holding Corp. by 106.9% in the first quarter. Spark Investment Management LLC now owns 516,300 shares of the company’s stock worth $2,870,000 after buying an additional 266,800 shares during the period. Nantahala Capital Management LLC purchased a new position in Ryerson Holding Corp. during the first quarter worth $2,242,000. Finally, Numeric Investors LLC purchased a new position in Ryerson Holding Corp. during the second quarter worth $5,790,000. Institutional investors and hedge funds own 29.13% of the company’s stock.
About Ryerson Holding Corp.
Ryerson Holding Corporation (Ryerson Holding) is a service center company for carbon and stainless steel, as well as aluminum. The Company processes and distributes a full line of over 70,000 products in stainless steel, aluminum, carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms.
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