Radius Recycling (NASDAQ:RDUS) Updates Q2 2024 Earnings Guidance

Radius Recycling (NASDAQ:RDUSGet Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -1.100–1.050 for the period. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn lowered shares of Radius Recycling from a neutral rating to a sell rating in a research note on Wednesday, February 28th.

Get Our Latest Stock Analysis on RDUS

Radius Recycling Stock Up 1.0 %

RDUS opened at $19.33 on Friday. The company has a fifty day moving average price of $24.03 and a 200-day moving average price of $26.24. The firm has a market capitalization of $538.57 million, a P/E ratio of -20.56 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.75 and a quick ratio of 0.83. Radius Recycling has a one year low of $17.57 and a one year high of $36.64.

Radius Recycling (NASDAQ:RDUSGet Free Report) last released its quarterly earnings results on Thursday, January 4th. The basic materials company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.07. The firm had revenue of $672.90 million during the quarter, compared to analyst estimates of $643.35 million. Radius Recycling had a negative net margin of 0.88% and a positive return on equity of 1.97%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.44) EPS. Equities research analysts expect that Radius Recycling will post -1.98 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.88%. Radius Recycling’s dividend payout ratio (DPR) is currently -79.79%.

Institutional Trading of Radius Recycling

Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC bought a new stake in shares of Radius Recycling during the 1st quarter worth $246,000. Meeder Asset Management Inc. lifted its stake in Radius Recycling by 125.5% in the fourth quarter. Meeder Asset Management Inc. now owns 7,306 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 4,066 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Radius Recycling in the fourth quarter worth $220,000. PNC Financial Services Group Inc. lifted its stake in Radius Recycling by 7.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,698 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 328 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Radius Recycling by 53.4% in the first quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 814 shares during the last quarter. 81.97% of the stock is owned by institutional investors.

About Radius Recycling

(Get Free Report)

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.

Read More

Earnings History and Estimates for Radius Recycling (NASDAQ:RDUS)

Receive News & Ratings for Radius Recycling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Radius Recycling and related companies with MarketBeat.com's FREE daily email newsletter.