Radius Recycling (NASDAQ:RDUS) Issues Quarterly Earnings Results

Radius Recycling (NASDAQ:RDUS) released its earnings results on Tuesday. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67), Zacks reports. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The business had revenue of $656.54 million during the quarter, compared to analysts’ expectations of $665.90 million. During the same quarter in the previous year, the company earned ($0.64) EPS. Radius Recycling’s revenue for the quarter was down 2.4% on a year-over-year basis.

Radius Recycling Stock Down 22.7 %

Shares of Radius Recycling stock opened at $11.41 on Thursday. The stock has a 50-day simple moving average of $17.72 and a 200-day simple moving average of $16.79. Radius Recycling has a 52-week low of $10.57 and a 52-week high of $28.02. The firm has a market cap of $319.92 million, a price-to-earnings ratio of -1.22 and a beta of 1.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling’s payout ratio is currently -8.01%.

Analyst Upgrades and Downgrades

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

Insider Activity at Radius Recycling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. The trade was a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.90% 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.