Radius Recycling, Inc. (NASDAQ:RDUS) Plans Quarterly Dividend of $0.19

Radius Recycling, Inc. (NASDAQ:RDUS) declared a quarterly dividend on Monday, April 7th, Wall Street Journal reports. Investors of record on Monday, April 21st will be given a dividend of 0.1875 per share by the basic materials company on Monday, May 5th. This represents a $0.75 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, April 21st.

Radius Recycling has a dividend payout ratio of 576.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Radius Recycling Trading Down 0.8 %

NASDAQ:RDUS traded down $0.23 on Monday, hitting $28.71. 2,929,771 shares of the stock were exchanged, compared to its average volume of 347,693. The stock has a fifty day moving average of $18.07 and a 200-day moving average of $17.35. The stock has a market cap of $808.33 million, a PE ratio of -2.87 and a beta of 1.07. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $29.20. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $642.51 million for the quarter, compared to analyst estimates of $635.94 million. As a group, equities analysts expect that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Radius Recycling in a report on Wednesday, April 2nd. They issued a “sell” rating for the company.

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.