Ryerson Holding (RYI) Stock Sinks As Market Gains: What You Should Know
Ryerson Holding (RYI) closed at $30.24 in the latest trading session, marking a -1.27% move from the prior day. This move lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Coming into today, shares of the metal products distributor and processor had gained 5.62% in the past month. In that same time, the Basic Materials sector lost 1.09%, while the S&P 500 gained 0.09%.
Ryerson Holding will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.40, down 72.97% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, down 18.31% from the prior-year quarter.
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 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Ryerson Holding is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Ryerson Holding currently has a Forward P/E ratio of 9.28. This valuation marks a premium compared to its industry's average Forward P/E of 8.36.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% 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.
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
