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Ryerson Holding (RYI) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Ryerson Holding (RYI - Free Report) standing at $28.97, reflecting a +1.19% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Coming into today, shares of the metal products distributor and processor had lost 4.95% in the past month. In that same time, the Basic Materials sector lost 4.68%, while the S&P 500 lost 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Ryerson Holding in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's upcoming EPS is projected at $0.40, signifying a 72.97% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.26 billion, indicating a 18.31% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.30 per share and revenue of $5.11 billion. These totals would mark changes of -68.69% and -19.22%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ryerson Holding. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Ryerson Holding is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Ryerson Holding is presently being traded at a Forward P/E ratio of 8.68. This represents 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. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Ryerson Holding (RYI) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Ryerson Holding (RYI - Free Report) standing at $28.97, reflecting a +1.19% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Coming into today, shares of the metal products distributor and processor had lost 4.95% in the past month. In that same time, the Basic Materials sector lost 4.68%, while the S&P 500 lost 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Ryerson Holding in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's upcoming EPS is projected at $0.40, signifying a 72.97% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.26 billion, indicating a 18.31% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.30 per share and revenue of $5.11 billion. These totals would mark changes of -68.69% and -19.22%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Ryerson Holding. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Ryerson Holding is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Ryerson Holding is presently being traded at a Forward P/E ratio of 8.68. This represents 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. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.