Ryerson Holding Corp (NYSE:RYI) – Equities researchers at KeyCorp lifted their FY2018 earnings per share estimates for shares of Ryerson in a report issued on Thursday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $1.05 per share for the year, up from their prior estimate of $1.00. KeyCorp has a “Buy” rating and a $13.50 price target on the stock.
RYI has been the subject of several other research reports. Zacks Investment Research downgraded shares of Ryerson from a “hold” rating to a “strong sell” rating in a report on Wednesday. Jefferies Group reiterated a “hold” rating and issued a $9.75 target price on shares of Ryerson in a report on Friday, November 10th. Finally, BMO Capital Markets dropped their target price on shares of Ryerson to $10.00 and set a “market perform” rating for the company in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.50.
Ryerson (NYSE:RYI) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. The business had revenue of $864.20 million during the quarter, compared to the consensus estimate of $853.35 million. Ryerson had a net margin of 0.26% and a negative return on equity of 33.95%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS.
A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its holdings in Ryerson by 89.2% in the 3rd quarter. California Public Employees Retirement System now owns 83,059 shares of the basic materials company’s stock valued at $901,000 after purchasing an additional 39,159 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Ryerson in the 3rd quarter valued at approximately $431,000. Dimensional Fund Advisors LP increased its holdings in Ryerson by 11.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 872,310 shares of the basic materials company’s stock valued at $9,462,000 after purchasing an additional 89,892 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Ryerson by 1,111.8% in the 3rd quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock valued at $2,674,000 after purchasing an additional 226,172 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its holdings in Ryerson by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 68,790 shares of the basic materials company’s stock valued at $746,000 after purchasing an additional 31,218 shares during the last quarter. Hedge funds and other institutional investors own 39.28% of the company’s stock.
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Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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