Jefferies Group Brokers Lift Earnings Estimates for Ryerson Holding Corporation (RYI)
Ryerson Holding Corporation (NYSE:RYI) – Equities research analysts at Jefferies Group boosted their Q4 2017 EPS estimates for Ryerson Holding Corporation in a report issued on Wednesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $0.01 per share for the quarter, up from their previous forecast of ($0.12). Jefferies Group has a “Hold” rating and a $9.75 price objective on the stock.
Other research analysts also recently issued reports about the company. KeyCorp restated a “buy” rating and set a $13.50 price objective on shares of Ryerson Holding Corporation in a research note on Tuesday, September 19th. Zacks Investment Research raised Ryerson Holding Corporation from a “sell” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets reissued a “hold” rating and issued a $13.00 price target on shares of Ryerson Holding Corporation in a research note on Friday, October 20th. BidaskClub cut Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, TheStreet raised Ryerson Holding Corporation from a “d” rating to a “c” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.56.
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Ryerson Holding Corporation (NYSE:RYI) opened at $8.90 on Monday. The company has a market capitalization of $331.16, a price-to-earnings ratio of 31.79 and a beta of 2.08. The company has a debt-to-equity ratio of -70.93, a quick ratio of 1.08 and a current ratio of 2.49. Ryerson Holding Corporation has a 52 week low of $7.65 and a 52 week high of $16.85.
Ryerson Holding Corporation (NYSE:RYI) last posted its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $864.20 million for the quarter, compared to analyst estimates of $853.35 million. Ryerson Holding Corporation had a negative return on equity of 33.95% and a net margin of 0.26%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS.
A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in Ryerson Holding Corporation by 1,111.8% during the third quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock valued at $2,674,000 after buying an additional 226,172 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in shares of Ryerson Holding Corporation by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 68,790 shares of the basic materials company’s stock valued at $746,000 after purchasing an additional 31,218 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Ryerson Holding Corporation during the third quarter valued at $134,000. Benefit Street Partners LLC lifted its holdings in shares of Ryerson Holding Corporation by 193.6% during the second quarter. Benefit Street Partners LLC now owns 200,000 shares of the basic materials company’s stock valued at $1,980,000 after purchasing an additional 131,875 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Ryerson Holding Corporation by 11.9% during the second quarter. California State Teachers Retirement System now owns 28,312 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 3,000 shares during the last quarter. 40.28% of the stock is owned by institutional investors and hedge funds.
About Ryerson Holding Corporation
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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