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.
Analyst Ratings Changes
Several research firms have weighed in on RYI. BMO Capital Markets lowered their price objective on Ryerson from $33.00 to $28.00 and set a market perform rating on the stock in a research report on Thursday, May 2nd. StockNews.com cut Ryerson from a buy rating to a hold rating in a research report on Friday, May 3rd.
Read Our Latest Analysis on RYI
Ryerson Price Performance
Ryerson (NYSE:RYI – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.47). The business had revenue of $1.24 billion during the quarter. Ryerson had a net margin of 1.84% and a return on equity of 10.27%.
Insider Activity at Ryerson
In other Ryerson news, COO Michael Burbach acquired 4,000 shares of Ryerson stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $23.75 per share, with a total value of $95,000.00. Following the completion of the purchase, the chief operating officer now directly owns 226,263 shares of the company’s stock, valued at approximately $5,373,746.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Karen Marie Leggio acquired 2,127 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost 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 of the company’s stock, valued at $49,984.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Burbach acquired 4,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $23.75 per share, with a total value of $95,000.00. Following the completion of the transaction, the chief operating officer now directly owns 226,263 shares of the company’s stock, valued at $5,373,746.25. The disclosure for this purchase can be found here. 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.
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