Radius Recycling (NASDAQ:RDUS) Issues Quarterly Earnings Results

Radius Recycling (NASDAQ:RDUS) issued its earnings results on Tuesday. The basic materials company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.07, Briefing.com reports. The company had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share.

Radius Recycling Stock Down 4.1 %

RDUS stock opened at $14.67 on Wednesday. The company’s 50 day simple moving average is $16.85 and its 200-day simple moving average is $21.21. Radius Recycling has a 12 month low of $12.69 and a 12 month high of $36.64. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

Several research firms have recently commented on RDUS. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. Seaport Res Ptn upgraded shares of Radius Recycling from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 30th.

About Radius Recycling

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.