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Ryerson Holding (RYI) Gains But Lags Market: What You Should Know
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Ryerson Holding (RYI - Free Report) closed the most recent trading day at $28.79, moving +0.52% from the previous trading session. This move lagged the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.
Coming into today, shares of the metal products distributor and processor had lost 5.38% in the past month. In that same time, the Basic Materials sector gained 0.67%, while the S&P 500 lost 2.84%.
Ryerson Holding will be looking to display strength as it nears its next earnings release. In that report, analysts expect Ryerson Holding to post earnings of $0.40 per share. This would mark a year-over-year decline of 72.97%. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, down 18.31% from the prior-year quarter.
RYI's full-year Zacks Consensus Estimates are calling for earnings of $3.30 per share and revenue of $5.11 billion. These results would represent year-over-year changes of -68.69% and -19.22%, respectively.
Investors should also note any recent changes to analyst estimates for Ryerson Holding. These revisions help to show the ever-changing nature of 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 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 currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Ryerson Holding is holding a Forward P/E ratio of 8.68. This valuation marks a premium compared to its industry's average Forward P/E of 8.17.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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.
To follow RYI in the coming trading sessions, be sure to utilize Zacks.com.
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Ryerson Holding (RYI) Gains But Lags Market: What You Should Know
Ryerson Holding (RYI - Free Report) closed the most recent trading day at $28.79, moving +0.52% from the previous trading session. This move lagged the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.
Coming into today, shares of the metal products distributor and processor had lost 5.38% in the past month. In that same time, the Basic Materials sector gained 0.67%, while the S&P 500 lost 2.84%.
Ryerson Holding will be looking to display strength as it nears its next earnings release. In that report, analysts expect Ryerson Holding to post earnings of $0.40 per share. This would mark a year-over-year decline of 72.97%. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, down 18.31% from the prior-year quarter.
RYI's full-year Zacks Consensus Estimates are calling for earnings of $3.30 per share and revenue of $5.11 billion. These results would represent year-over-year changes of -68.69% and -19.22%, respectively.
Investors should also note any recent changes to analyst estimates for Ryerson Holding. These revisions help to show the ever-changing nature of 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 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 currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Ryerson Holding is holding a Forward P/E ratio of 8.68. This valuation marks a premium compared to its industry's average Forward P/E of 8.17.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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.
To follow RYI in the coming trading sessions, be sure to utilize Zacks.com.