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Ryerson Holding (RYI) Increases Despite Market Slip: Here's What You Need to Know
Ryerson Holding (RYI - Free Report) closed the latest trading day at $32.45, indicating a +0.87% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.37% for the day. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
The metal products distributor and processor's stock has dropped by 1.59% in the past month, exceeding the Basic Materials sector's loss of 2.68% and lagging the S&P 500's gain of 1.56%.
The upcoming earnings release of Ryerson Holding will be of great interest to investors. In that report, analysts expect Ryerson Holding to post earnings of $0.24 per share. This would mark year-over-year growth of 136.92%. Alongside, our most recent consensus estimate is anticipating revenue of $1.12 billion, indicating a 12.72% downward movement from the same quarter last year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Ryerson Holding possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Ryerson Holding is holding a Forward P/E ratio of 11.29. This represents a premium compared to its industry's average Forward P/E of 9.57.
The Steel - Producers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RYI in the coming trading sessions, be sure to utilize Zacks.com.