Ryerson (NYSE:RYI) Updates Q3 2024 Earnings Guidance

Ryerson (NYSE:RYI) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.010-0.100 for the period, compared to the consensus earnings per share estimate of 0.130. The company issued revenue guidance of $1.1 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion.

Ryerson Trading Down 2.0 %

Shares of RYI stock traded down $0.50 during trading hours on Tuesday, hitting $24.78. The company had a trading volume of 384,591 shares, compared to its average volume of 303,339. The company’s fifty day moving average is $21.87 and its 200 day moving average is $27.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 0.94. Ryerson has a fifty-two week low of $18.21 and a fifty-two week high of $42.78. The stock has a market capitalization of $850.95 million, a PE ratio of 9.75 and a beta of 1.61.

Ryerson (NYSE:RYI) last released its earnings results on Tuesday, April 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.47). The business had revenue of $1.24 billion for the quarter. Ryerson had a return on equity of 10.27% and a net margin of 1.84%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Ryerson from a buy rating to a hold rating in a report on Friday, May 3rd. BMO Capital Markets dropped their price objective on shares of Ryerson from $33.00 to $28.00 and set a market perform rating on the stock in a research report on Thursday, May 2nd.

Insider Buying and Selling at Ryerson

In related news, Director Karen Marie Leggio bought 2,127 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $23.50 per share, with a total value of $49,984.50. Following the transaction, the director now directly owns 2,127 shares of the company’s stock, valued at approximately $49,984.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Ryerson news, Director Karen Marie Leggio acquired 2,127 shares of the stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $23.50 per share, with a total value of $49,984.50. Following the transaction, the director now owns 2,127 shares of the company’s stock, valued at approximately $49,984.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Burbach acquired 4,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $23.75 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the chief operating officer now directly owns 226,263 shares in the company, valued at approximately $5,373,746.25. The disclosure for this purchase can be found here. Insiders own 3.88% of the company’s stock.

Ryerson Company Profile

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.