What is KeyCorp’s Estimate for Ryerson FY2024 Earnings?

Ryerson Holding Co. (NYSE:RYI) – Investment analysts at KeyCorp issued their FY2024 earnings per share 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 (NYSE:RYI) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Ryerson had a net margin of 0.46% and a return on equity of 2.66%. The firm had revenue of $1.13 billion during the quarter. During the same quarter in the prior year, the company posted $1.00 earnings per share.

Ryerson Stock Performance

Shares of Ryerson stock opened at $21.70 on Friday. Ryerson has a 1-year low of $17.18 and a 1-year high of $36.15. The company has a market cap of $690.95 million, a P/E ratio of 35.57 and a beta of 1.59. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $21.17.

Ryerson Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, December 5th. Ryerson’s dividend payout ratio (DPR) is presently 122.95%.

Insiders Place Their Bets

In related 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 completion of the sale, the executive vice president now owns 107,664 shares in the company, valued at $2,644,227.84. The trade was a 7.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JB Capital Partners LP grew its holdings in shares of Ryerson by 4.0% during the 3rd quarter. JB Capital Partners LP now owns 2,131,069 shares of the basic materials company’s stock valued at $42,430,000 after purchasing an additional 82,313 shares during the last quarter. State Street Corp boosted its position in Ryerson by 3.2% during the third quarter. State Street Corp now owns 1,411,397 shares of the basic materials company’s stock valued at $28,101,000 after buying an additional 43,780 shares during the period. Victory Capital Management Inc. grew its stake in shares of Ryerson by 164.8% during the third quarter. Victory Capital Management Inc. now owns 1,150,498 shares of the basic materials company’s stock valued at $22,906,000 after buying an additional 715,990 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Ryerson by 31.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 847,514 shares of the basic materials company’s stock worth $16,874,000 after purchasing an additional 203,314 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Ryerson by 6.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 480,341 shares of the basic materials company’s stock valued at $9,564,000 after purchasing an additional 31,046 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

About Ryerson

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.