Ryerson Holding (RYI - Free Report) closed at $33.40 in the latest trading session, marking a -0.57% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq increased by 0.36%.
Shares of the metal products distributor and processor witnessed a loss of 5.43% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.84% and underperforming the S&P 500's gain of 2.4%.
The investment community will be paying close attention to the earnings performance of Ryerson Holding in its upcoming release. The company is forecasted to report an EPS of $0.24, showcasing a 136.92% upward movement from the corresponding quarter of the prior 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.
Any recent changes to analyst estimates for Ryerson Holding should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 11.79. This valuation marks a premium compared to its industry's average Forward P/E of 9.37.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Ryerson Holding (RYI - Free Report) closed at $33.40 in the latest trading session, marking a -0.57% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq increased by 0.36%.
Shares of the metal products distributor and processor witnessed a loss of 5.43% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.84% and underperforming the S&P 500's gain of 2.4%.
The investment community will be paying close attention to the earnings performance of Ryerson Holding in its upcoming release. The company is forecasted to report an EPS of $0.24, showcasing a 136.92% upward movement from the corresponding quarter of the prior 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.
Any recent changes to analyst estimates for Ryerson Holding should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 11.79. This valuation marks a premium compared to its industry's average Forward P/E of 9.37.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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