Ryerson Holding (RYI) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Ryerson Holding (RYI) closed at $30.30, marking a -1.4% move from the previous day. This change lagged the S&P 500's 0.32% loss on the day. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.89%.
Prior to today's trading, shares of the metal products distributor and processor had gained 6.63% over the past month. This has outpaced the Basic Materials sector's loss of 1.57% and the S&P 500's loss of 0.12% in that time.
Ryerson Holding will be looking to display strength as it nears its next earnings release. On that day, Ryerson Holding is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 72.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.26 billion, down 18.31% from the year-ago period.
RYI's full-year Zacks Consensus Estimates are calling for earnings of $3.30 per share and revenue of $5.11 billion. These results would represent year-over-year changes of -68.69% and -19.22%, respectively.
Investors might also notice recent changes to analyst estimates for Ryerson Holding. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ryerson Holding currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Ryerson Holding's current valuation metrics, including its Forward P/E ratio of 9.31. This represents a premium compared to its industry's average Forward P/E of 8.68.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ryerson Holding Corporation (RYI) : Free Stock Analysis Report
