Ryerson Holding (RYI) Dips More Than Broader Markets: What You Should Know
Ryerson Holding (RYI) closed at $28.63 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's daily loss of 1.64%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.82%.
Coming into today, shares of the metal products distributor and processor had lost 1.62% in the past month. In that same time, the Basic Materials sector lost 0.29%, while the S&P 500 gained 0.89%.
Wall Street will be looking for positivity from Ryerson Holding as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $1.26 billion, down 18.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.30 per share and revenue of $5.11 billion, which would represent changes of -68.69% and -19.22%, respectively, from the prior year.
Any recent changes to analyst estimates for Ryerson Holding should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ryerson Holding is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Ryerson Holding currently has a Forward P/E ratio of 8.83. This valuation marks a premium compared to its industry's average Forward P/E of 8.16.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ryerson Holding Corporation (RYI) : Free Stock Analysis Report
