Ryerson Holding Corp (NYSE:RYI) – KeyCorp raised their FY2017 earnings per share estimates for shares of Ryerson in a research note issued to investors on Thursday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $0.46 per share for the year, up from their previous forecast of $0.35. KeyCorp currently has a “Buy” rating and a $13.50 price objective on the stock. KeyCorp also issued estimates for Ryerson’s Q4 2017 earnings at $0.00 EPS.
Ryerson (NYSE:RYI) last issued its earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $864.20 million during the quarter, compared to the consensus estimate of $853.35 million. Ryerson had a net margin of 0.26% and a negative return on equity of 33.95%. Ryerson’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Ryerson from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. Jefferies Group reaffirmed a “hold” rating and issued a $9.75 target price on shares of Ryerson in a report on Friday, November 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $13.00 target price on shares of Ryerson in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Ryerson currently has an average rating of “Hold” and a consensus target price of $11.50.
Ryerson (NYSE:RYI) opened at $12.45 on Monday. The firm has a market cap of $462.85, a price-to-earnings ratio of 54.13 and a beta of 2.07. The company has a quick ratio of 1.08, a current ratio of 2.49 and a debt-to-equity ratio of -70.93. Ryerson has a 1-year low of $7.65 and a 1-year high of $14.65.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Ryerson by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 872,310 shares of the basic materials company’s stock valued at $9,462,000 after purchasing an additional 89,892 shares during the last quarter. Thrivent Financial For Lutherans bought a new position in shares of Ryerson during the 2nd quarter valued at about $2,754,000. Wells Fargo & Company MN boosted its holdings in shares of Ryerson by 1,111.8% during the 3rd quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock valued at $2,674,000 after purchasing an additional 226,172 shares during the last quarter. State Street Corp boosted its holdings in shares of Ryerson by 5.0% during the 2nd quarter. State Street Corp now owns 213,745 shares of the basic materials company’s stock valued at $2,119,000 after purchasing an additional 10,141 shares during the last quarter. Finally, Benefit Street Partners LLC boosted its holdings in shares of Ryerson by 193.6% during the 2nd quarter. Benefit Street Partners LLC now owns 200,000 shares of the basic materials company’s stock valued at $1,980,000 after purchasing an additional 131,875 shares during the last quarter. 39.28% of the stock is owned by institutional investors and hedge funds.
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Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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