Radius Recycling (NASDAQ:RDUS) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Radius Recycling (NASDAQ:RDUS) released its earnings results on Tuesday. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.07, Briefing.com reports. Radius Recycling had a negative net margin of 10.28% and a negative return on equity of 5.89%. The business had revenue of $673.92 million for the quarter, compared to analysts’ expectations of $693.90 million. During the same period last year, the company earned $0.67 earnings per share. The company’s quarterly revenue was down 16.8% on a year-over-year basis.

Radius Recycling Trading Up 8.2 %

Shares of NASDAQ RDUS opened at $15.88 on Thursday. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $36.64. The business has a 50-day moving average of $16.81 and a 200-day moving average of $21.17. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43.

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 22nd will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Monday, July 22nd. Radius Recycling’s payout ratio is -32.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RDUS shares. Seaport Res Ptn upgraded shares of Radius Recycling from a “strong sell” rating to a “hold” rating in a report on Thursday, May 30th. StockNews.com upgraded shares of Radius Recycling from a “sell” rating to a “hold” rating in a report on Wednesday.

About Radius Recycling

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.