Todays Report: The KeyCorp lowers the estimated Q3 2016 for Ryerson Holding Corp. (RYI)

The KeyCorp lowers the estimated Q3 2016 for Ryerson Holding Corp. (RYI)

Ryerson Holding Corp. (NYSE:RYI) – Equities researchers at KeyCorp cut their Q3 2016 earnings per share (EPS) estimates for Ryerson Holding Corp. in a report issued on Sunday. KeyCorp analyst P. Gibbs now forecasts that the firm will post earnings per share of $0.28 for the quarter, down from their previous forecast of $0.40. KeyCorp also issued estimates for Ryerson Holding Corp.’s Q4 2016 earnings at $0.09 EPS.

Other analysts have also recently issued reports about the stock. Jefferies Group restated a “hold” rating and set a $14.50 target price (up from $10.00) on shares of Ryerson Holding Corp. in a report on Friday, June 10th. BMO Capital Markets raised their target price on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the stock a “market perform” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. raised their target price on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Finally, Zacks Investment Research cut shares of Ryerson Holding Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.50.

Ryerson Holding Corp. (NYSE:RYI) traded up 4.99% during midday trading on Wednesday, reaching $9.25. The company had a trading volume of 258,580 shares. The company has a market capitalization of $343.17 million, a P/E ratio of 57.10 and a beta of 2.21. The company’s 50 day moving average is $11.51 and its 200-day moving average is $11.90. Ryerson Holding Corp. has a 52-week low of $2.53 and a 52-week high of $19.71.

Ryerson Holding Corp. (NYSE:RYI) last posted its earnings results on Wednesday, August 10th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Ryerson Holding Corp. had a negative return on equity of 14.34% and a net margin of 0.18%.

Several large investors have recently modified their holdings of RYI. JPMorgan Chase & Co. raised its stake in shares of Ryerson Holding Corp. by 512,018.1% in the second quarter. JPMorgan Chase & Co. now owns 850,116 shares of the company’s stock worth $14,878,000 after buying an additional 849,950 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Ryerson Holding Corp. during the first quarter worth about $2,242,000. Numeric Investors LLC bought a new stake in shares of Ryerson Holding Corp. during the second quarter worth about $5,790,000. Spark Investment Management LLC raised its stake in shares of Ryerson Holding Corp. by 106.9% in the first quarter. Spark Investment Management LLC now owns 516,300 shares of the company’s stock worth $2,870,000 after buying an additional 266,800 shares during the period. Finally, Oxford Asset Management raised its stake in shares of Ryerson Holding Corp. by 321.9% in the second quarter. Oxford Asset Management now owns 306,872 shares of the company’s stock worth $5,370,000 after buying an additional 234,143 shares during the period. 29.13% of the stock is owned by institutional investors.

In related news, insider Michael Burbach bought 2,800 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was bought at an average price of $12.90 per share, with a total value of $36,120.00. Following the purchase, the insider now directly owns 37,800 shares of the company’s stock, valued at approximately $487,620. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin D. Richardson bought 2,750 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $12.00 per share, with a total value of $33,000.00. Following the purchase, the insider now directly owns 57,750 shares in the company, valued at $693,000. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by corporate insiders.

About Ryerson Holding Corp.

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