KeyCorp Analysts Lower Earnings Estimates for Ryerson Holding Corp. (RYI)
Ryerson Holding Corp. (NYSE:RYI) – Analysts at KeyCorp reduced their Q3 2016 earnings estimates for shares of Ryerson Holding Corp. in a research report issued to clients and investors on Sunday. KeyCorp analyst P. Gibbs now forecasts that the brokerage will post earnings of $0.28 per share for the quarter, down from their previous estimate of $0.40. KeyCorp also issued estimates for Ryerson Holding Corp.’s Q4 2016 earnings at $0.09 EPS.
Ryerson Holding Corp. (NYSE:RYI) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.52 earnings per share for the quarter, beating 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%.
A number of other research firms also recently weighed in on RYI. 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. JPMorgan Chase & Co. increased their price target on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. BMO Capital Markets increased their price target on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the stock a “market perform” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research downgraded shares of Ryerson Holding Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.50.
Shares of Ryerson Holding Corp. (NYSE:RYI) opened at 9.32 on Wednesday. The company has a 50-day moving average of $11.44 and a 200-day moving average of $11.88. The stock has a market capitalization of $345.76 million, a PE ratio of 57.53 and a beta of 2.21. Ryerson Holding Corp. has a 12 month low of $2.53 and a 12 month high of $19.71.
Several large investors have recently added to or reduced their stakes in RYI. Emerald Acquisition Ltd. purchased a new stake in Ryerson Holding Corp. during the second quarter worth $117,000. O Shaughnessy Asset Management LLC purchased a new stake in Ryerson Holding Corp. during the second quarter worth $126,000. Acrospire Investment Management LLC purchased a new stake in Ryerson Holding Corp. during the first quarter worth $163,000. BlackRock Group LTD purchased a new stake in Ryerson Holding Corp. during the second quarter worth $167,000. Finally, Bank of Montreal Can purchased a new stake in Ryerson Holding Corp. during the second quarter worth $195,000. 29.13% of the stock is owned by institutional investors.
In other Ryerson Holding Corp. news, CEO Edward J. Lehner acquired 7,060 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was bought at an average price of $12.00 per share, with a total value of $84,720.00. Following the completion of the transaction, the chief executive officer now directly owns 79,060 shares of the company’s stock, valued at $948,720. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin D. Richardson acquired 2,750 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average cost of $12.00 per share, with a total value 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. 0.90% of the stock is currently owned by insiders.
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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