Radius Recycling (NASDAQ:RDUS) Releases Earnings Results, Beats Estimates By $0.48 EPS

Radius Recycling (NASDAQ:RDUS - Get Free Report) announced its quarterly earnings data on Tuesday. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.87) by $0.48, Zacks reports. The company had revenue of $726.99 million during the quarter, compared to the consensus estimate of $725.30 million. Radius Recycling had a negative return on equity of 16.38% and a negative net margin of 10.37%. During the same period in the previous year, the company posted ($0.59) EPS.

Radius Recycling Price Performance

Shares of NASDAQ:RDUS traded down $0.07 during trading on Tuesday, hitting $29.62. 404,218 shares of the company's stock were exchanged, compared to its average volume of 458,180. The business's 50-day simple moving average is $29.48 and its 200 day simple moving average is $22.21. The company has a market cap of $835.28 million, a price-to-earnings ratio of -2.97 and a beta of 1.02. Radius Recycling has a 52-week low of $10.57 and a 52-week high of $29.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.81 and a quick ratio of 0.88.

Radius Recycling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Monday, July 21st will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.53%. Radius Recycling's dividend payout ratio (DPR) is -7.52%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on shares of Radius Recycling in a research note on Tuesday, May 20th. They issued a "sell" rating for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Radius Recycling by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,700 shares of the basic materials company's stock valued at $453,000 after buying an additional 708 shares during the last quarter. AQR Capital Management LLC grew its stake in Radius Recycling by 7.3% during the first quarter. AQR Capital Management LLC now owns 60,224 shares of the basic materials company's stock valued at $1,739,000 after acquiring an additional 4,092 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Radius Recycling by 82.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 422,774 shares of the basic materials company's stock valued at $12,210,000 after acquiring an additional 191,278 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Radius Recycling by 300.3% in the 1st quarter. Millennium Management LLC now owns 595,714 shares of the basic materials company's stock valued at $17,204,000 after acquiring an additional 446,891 shares during the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.

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.