Ryerson Holding (RYI) Rises But Trails Market: What Investors Should Know
The latest trading session saw Ryerson Holding (RYI) ending at $33.59, denoting a +0.24% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.
The metal products distributor and processor's stock has dropped by 5.39% in the past month, exceeding the Basic Materials sector's loss of 7.93% and lagging the S&P 500's gain of 2.08%.
Investors will be eagerly watching for the performance of Ryerson Holding in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.24, marking a 136.92% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.12 billion, indicating a 12.72% downward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ryerson Holding. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Ryerson Holding possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Ryerson Holding is presently being traded at a Forward P/E ratio of 11.76. For comparison, its industry has an average Forward P/E of 9.28, which means Ryerson Holding is trading at a premium to the group.
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ryerson Holding Corporation (RYI) : Free Stock Analysis Report
