Radius Recycling (NASDAQ:RDUS) Issues Earnings Results, Beats Estimates By $0.05 EPS

Radius Recycling (NASDAQ:RDUS) issued its earnings results on Thursday. The basic materials company reported ($1.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.05, Briefing.com reports. Radius Recycling had a positive return on equity of 1.97% and a negative net margin of 0.88%. The firm had revenue of $621.06 million for the quarter, compared to analysts’ expectations of $626.35 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 17.8% compared to the same quarter last year.

Radius Recycling Trading Down 2.7 %

NASDAQ:RDUS opened at $19.61 on Friday. The business’s 50-day moving average is $22.07 and its two-hundred day moving average is $25.09. 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 12 month low of $17.04 and a 12 month high of $36.64. The firm has a market capitalization of $546.33 million, a PE ratio of -20.86 and a beta of 1.60.

Analysts Set New Price Targets

Separately, Seaport Res Ptn cut Radius Recycling from a “neutral” rating to a “sell” rating in a report on Wednesday, February 28th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDUS. JPMorgan Chase & Co. raised its position in Radius Recycling by 22.0% in the first quarter. JPMorgan Chase & Co. now owns 291,675 shares of the basic materials company’s stock valued at $15,150,000 after purchasing an additional 52,677 shares during the period. US Bancorp DE increased its position in shares of Radius Recycling by 53.4% during the first quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock worth $121,000 after acquiring an additional 814 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Radius Recycling during the first quarter worth about $246,000. MetLife Investment Management LLC increased its position in shares of Radius Recycling by 60.6% during the first quarter. MetLife Investment Management LLC now owns 14,061 shares of the basic materials company’s stock worth $730,000 after acquiring an additional 5,304 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new stake in shares of Radius Recycling during the first quarter worth about $1,989,000. 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.