Radius Recycling, Inc. (NASDAQ:RDUS) to Issue $0.19 Quarterly Dividend

Radius Recycling, Inc. (NASDAQ:RDUS) announced a quarterly dividend on Monday, January 6th,Wall Street Journal reports. Stockholders of record on Monday, February 3rd will be paid a dividend of 0.1875 per share by the basic materials company on Tuesday, February 18th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date of this dividend is Monday, February 3rd.

Radius Recycling has a dividend payout ratio of 1,250.0% 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 Stock Performance

Shares of RDUS stock opened at $12.01 on Friday. The company has a market cap of $338.14 million, a P/E ratio of -1.20 and a beta of 1.64. The firm has a fifty day moving average price of $15.48 and a 200 day moving average price of $16.38. 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 has a 12 month low of $10.57 and a 12 month high of $27.70.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. During the same period in the prior year, the company posted ($0.64) earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the stock. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Radius Recycling Company Profile

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.