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Ryerson Holding (RYI) Gains As Market Dips: What You Should Know

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In the latest trading session, Ryerson Holding (RYI - Free Report) closed at $28.89, marking a +0.98% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.

Coming into today, shares of the metal products distributor and processor had lost 9.46% in the past month. In that same time, the Basic Materials sector lost 6.57%, while the S&P 500 lost 4.93%.

Wall Street will be looking for positivity from Ryerson Holding as it approaches its next earnings report date. This is expected to be October 30, 2023. On that day, Ryerson Holding is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 72.97%. Our most recent consensus estimate is calling for quarterly revenue of $1.26 billion, down 18.31% from the year-ago period.

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.

It is also important to note the recent changes to analyst estimates for Ryerson Holding. 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.

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.

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 holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Ryerson Holding is currently trading at a Forward P/E ratio of 8.67. This represents a premium compared to its industry's average Forward P/E of 8.26.

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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