Ryerson (NYSE:RYI) Issues Q2 2024 Earnings Guidance

Ryerson (NYSE:RYI) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.150-0.250 for the period, compared to the consensus EPS estimate of 0.570. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.2 billion.

Ryerson Trading Down 7.1 %

Ryerson stock traded down $2.17 during midday trading on Tuesday, hitting $28.56. 312,176 shares of the stock were exchanged, compared to its average volume of 214,079. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $971.61 million, a price-to-earnings ratio of 7.02 and a beta of 1.65. The stock’s 50-day simple moving average is $32.12 and its 200 day simple moving average is $31.72. Ryerson has a fifty-two week low of $26.15 and a fifty-two week high of $44.70.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.49. Ryerson had a net margin of 2.85% and a return on equity of 16.33%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned ($0.65) earnings per share.

Ryerson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from Ryerson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 6th. Ryerson’s payout ratio is presently 18.43%.

Insider Activity at Ryerson

In related news, insider Alagu Sundarrajan sold 7,407 shares of Ryerson stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $32.77, for a total value of $242,727.39. Following the transaction, the insider now directly owns 13,077 shares in the company, valued at approximately $428,533.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.88% of the stock is currently owned by insiders.

About Ryerson

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.