Ryerson Holding (RYI) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with Ryerson Holding (RYI) standing at $34.89, reflecting a +0.58% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
Shares of the metal products distributor and processor have appreciated by 0.03% over the course of the past month, outperforming the Basic Materials sector's loss of 6.09% and lagging the S&P 500's gain of 3.36%.
Analysts and investors alike will be keeping a close eye on the performance of Ryerson Holding in its upcoming earnings disclosure. The company's earnings report is set to go public on February 21, 2024. The company is predicted to post an EPS of $0.24, indicating a 136.92% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.12 billion, indicating a 12.72% decline compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Ryerson Holding. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Ryerson Holding presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Ryerson Holding is presently being traded at a Forward P/E ratio of 12.17. This denotes a premium relative to the industry's average Forward P/E of 9.55.
The Steel - Producers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ryerson Holding Corporation (RYI) : Free Stock Analysis Report
