Radius Recycling (NASDAQ:RDUS) Issues Earnings Results

Radius Recycling (NASDAQ:RDUS) posted its earnings results on Thursday. The basic materials company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.05, Briefing.com reports. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.70%. The business had revenue of $621.06 million during the quarter, compared to the consensus estimate of $626.35 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue was down 17.8% on a year-over-year basis.

Radius Recycling Trading Up 1.9 %

Shares of Radius Recycling stock opened at $19.98 on Friday. The company’s fifty day simple moving average is $21.95 and its 200-day simple moving average is $25.03. The stock has a market capitalization of $556.64 million, a PE ratio of -8.76 and a beta of 1.60. Radius Recycling has a 1-year low of $17.04 and a 1-year high of $36.64. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, April 19th. Radius Recycling’s dividend payout ratio is presently -32.89%.

Analyst Upgrades and Downgrades

RDUS has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Friday. Seaport Res Ptn cut shares of Radius Recycling from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 28th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Captrust Financial Advisors lifted its stake in Radius Recycling by 357.0% in the 2nd quarter. Captrust Financial Advisors now owns 754 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 589 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Radius Recycling by 123.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 469 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Radius Recycling in the 2nd quarter worth $45,000. Point72 Middle East FZE purchased a new stake in Radius Recycling in the 2nd quarter worth $54,000. Finally, Citigroup Inc. lifted its stake in Radius Recycling by 120.0% in the 1st quarter. Citigroup Inc. now owns 1,883 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 1,027 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.