Ryerson Holding (RYI) Gains But Lags Market: What You Should Know
Ryerson Holding (RYI) closed the latest trading day at $33.29, indicating a +1.37% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 1.41%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.
Heading into today, shares of the metal products distributor and processor had gained 11.36% over the past month, outpacing the Basic Materials sector's gain of 5.33% and the S&P 500's gain of 2.9% in that time.
Market participants will be closely following the financial results of Ryerson Holding in its upcoming release. The company is predicted to post an EPS of $0.24, indicating a 136.92% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.12 billion, indicating a 12.72% decrease compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Ryerson Holding. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 #3 (Hold).
Looking at its valuation, Ryerson Holding is holding a Forward P/E ratio of 11.52. This valuation marks a premium compared to its industry's average Forward P/E of 9.4.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Ryerson Holding Corporation (RYI) : Free Stock Analysis Report
