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Ryerson Holding (RYI) Falls More Steeply Than Broader Market: What Investors Need to Know
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Ryerson Holding (RYI - Free Report) closed the most recent trading day at $26.49, moving -1.89% from the previous trading session. This change lagged the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Prior to today's trading, shares of the metal products distributor and processor had lost 5.69% over the past month. This has was narrower than the Basic Materials sector's loss of 6.86% and lagged the S&P 500's loss of 3.67% in that time.
Investors will be eagerly watching for the performance of Ryerson Holding in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2023. On that day, Ryerson Holding is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 72.97%. Our most recent consensus estimate is calling for quarterly revenue of $1.26 billion, down 18.31% from the year-ago period.
RYI's full-year Zacks Consensus Estimates are calling for earnings of $3.30 per share and revenue of $5.11 billion. These results would represent year-over-year changes of -68.69% and -19.22%, respectively.
Investors should also note any recent changes to analyst estimates for Ryerson Holding. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Ryerson Holding boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Ryerson Holding is presently trading at a Forward P/E ratio of 8.18. This indicates a premium in contrast to its industry's Forward P/E of 8.15.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ryerson Holding (RYI) Falls More Steeply Than Broader Market: What Investors Need to Know
Ryerson Holding (RYI - Free Report) closed the most recent trading day at $26.49, moving -1.89% from the previous trading session. This change lagged the S&P 500's daily loss of 1.26%. Meanwhile, the Dow experienced a drop of 0.86%, and the technology-dominated Nasdaq saw a decrease of 1.54%.
Prior to today's trading, shares of the metal products distributor and processor had lost 5.69% over the past month. This has was narrower than the Basic Materials sector's loss of 6.86% and lagged the S&P 500's loss of 3.67% in that time.
Investors will be eagerly watching for the performance of Ryerson Holding in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 30, 2023. On that day, Ryerson Holding is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 72.97%. Our most recent consensus estimate is calling for quarterly revenue of $1.26 billion, down 18.31% from the year-ago period.
RYI's full-year Zacks Consensus Estimates are calling for earnings of $3.30 per share and revenue of $5.11 billion. These results would represent year-over-year changes of -68.69% and -19.22%, respectively.
Investors should also note any recent changes to analyst estimates for Ryerson Holding. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Ryerson Holding boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Ryerson Holding is presently trading at a Forward P/E ratio of 8.18. This indicates a premium in contrast to its industry's Forward P/E of 8.15.
The Steel - Producers industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.