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Ryerson Holding (RYI) Gains As Market Dips: What You Should Know
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Ryerson Holding (RYI - Free Report) closed the most recent trading day at $14.32, moving +1.99% from the previous trading session. This change outpaced the S&P 500's 0.11% loss on the day. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the metal products distributor and processor had lost 14.89% over the past month, lagging the Basic Materials sector's loss of 3.08% and the S&P 500's gain of 2.46% in that time.
Wall Street will be looking for positivity from RYI as it approaches its next earnings report date. On that day, RYI is projected to report earnings of $0.42 per share, which would represent year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $898.21 million, down 6.58% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for RYI. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. RYI is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that RYI has a Forward P/E ratio of 7.73 right now. This represents a discount compared to its industry's average Forward P/E of 10.9.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ryerson Holding (RYI) Gains As Market Dips: What You Should Know
Ryerson Holding (RYI - Free Report) closed the most recent trading day at $14.32, moving +1.99% from the previous trading session. This change outpaced the S&P 500's 0.11% loss on the day. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the metal products distributor and processor had lost 14.89% over the past month, lagging the Basic Materials sector's loss of 3.08% and the S&P 500's gain of 2.46% in that time.
Wall Street will be looking for positivity from RYI as it approaches its next earnings report date. On that day, RYI is projected to report earnings of $0.42 per share, which would represent year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $898.21 million, down 6.58% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for RYI. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. RYI is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that RYI has a Forward P/E ratio of 7.73 right now. This represents a discount compared to its industry's average Forward P/E of 10.9.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.