Ryerson Holding (RYI) Rises Higher Than Market: Key Facts
The latest trading session saw Ryerson Holding (RYI) ending at $33.45, denoting a +0.36% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
Shares of the metal products distributor and processor witnessed a gain of 0.12% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.52% and underperforming the S&P 500's gain of 5.3%.
Investors will be eagerly watching for the performance of Ryerson Holding in its upcoming earnings disclosure. The company's earnings report is set to be unveiled 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. Simultaneously, our latest consensus estimate expects the revenue to be $1.12 billion, showing a 12.72% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Ryerson Holding. Recent revisions tend to reflect the latest 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Ryerson Holding boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Ryerson Holding is at present trading with a Forward P/E ratio of 11.69. This represents a premium compared to its industry's average Forward P/E of 10.44.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Ryerson Holding Corporation (RYI) : Free Stock Analysis Report
