Ryerson (NYSE:RYI – Get Free Report) updated its third quarter 2024 earnings guidance on Tuesday. 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.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on RYI. BMO Capital Markets decreased their target price on Ryerson from $33.00 to $28.00 and set a market perform rating for the company in a research report on Thursday, May 2nd. StockNews.com lowered Ryerson from a buy rating to a hold rating in a research report on Friday, May 3rd.
Read Our Latest Report on Ryerson
Ryerson Stock Down 3.0 %
Ryerson (NYSE:RYI – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.47). Ryerson had a return on equity of 7.24% and a net margin of 1.31%. The firm had revenue of $1.24 billion during the quarter.
Ryerson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Thursday, September 5th. Ryerson’s dividend payout ratio (DPR) is 29.07%.
Insider Transactions at Ryerson
In related news, Director Karen Marie Leggio acquired 2,127 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $23.50 per share, for a total transaction of $49,984.50. Following the completion of the transaction, the director now directly owns 2,127 shares in the company, valued at $49,984.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.
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