What is KeyCorp’s Estimate for Ryerson FY2024 Earnings?

Ryerson Holding Co. (NYSE:RYI) – KeyCorp issued their FY2024 earnings estimates for Ryerson in a report released on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the basic materials company will earn ($0.45) per share for the year.

Ryerson Price Performance

RYI stock opened at $21.70 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.22 and a quick ratio of 1.06. Ryerson has a 1 year low of $17.18 and a 1 year high of $36.15. The firm has a 50-day moving average of $21.58 and a 200 day moving average of $21.15. The company has a market cap of $691.02 million, a P/E ratio of 35.57 and a beta of 1.59.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The company had revenue of $1.13 billion during the quarter. During the same quarter in the prior year, the business posted $1.00 EPS.

Ryerson Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, December 5th. Ryerson’s dividend payout ratio is currently 122.95%.

Insider Activity at Ryerson

In other news, EVP Mark S. Silver sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $24.56, for a total value of $221,040.00. Following the sale, the executive vice president now directly owns 107,664 shares of the company’s stock, valued at $2,644,227.84. The trade was a 7.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. bought a new position in shares of Ryerson during the second quarter valued at $39,000. Copeland Capital Management LLC purchased a new stake in Ryerson during the 3rd quarter valued at about $56,000. SG Americas Securities LLC bought a new stake in Ryerson during the 3rd quarter valued at about $108,000. Point72 DIFC Ltd raised its holdings in Ryerson by 16.7% in the second quarter. Point72 DIFC Ltd now owns 5,835 shares of the basic materials company’s stock worth $114,000 after buying an additional 837 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Ryerson by 159.7% in the third quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock worth $152,000 after buying an additional 4,704 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ryerson Company Profile

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States and internationally. It offers a line of products in carbon steel, stainless steel, alloy steels, and aluminum, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural, and tubing.