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

Radius Recycling (NASDAQ:RDUS) posted its quarterly earnings data on Thursday. The basic materials company reported ($1.04) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $621.06 million for the quarter, compared to analysts’ expectations of $626.35 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s revenue was down 17.8% on a year-over-year basis.

Radius Recycling Stock Down 2.7 %

RDUS opened at $19.61 on Friday. Radius Recycling has a 12 month low of $17.04 and a 12 month high of $36.64. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $22.07 and its 200-day moving average price is $25.09. The company has a market cap of $546.33 million, a P/E ratio of -20.86 and a beta of 1.60.

Institutional Trading of Radius Recycling

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its holdings 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 buying an additional 589 shares during the period. Tower Research Capital LLC TRC lifted its stake in Radius Recycling by 123.4% in the first quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 469 shares during the period. Point72 Hong Kong Ltd bought a new stake in Radius Recycling in the second quarter valued at $45,000. Point72 Middle East FZE purchased a new position in Radius Recycling during the 2nd quarter valued at $54,000. Finally, Citigroup Inc. lifted its position in shares of 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 during the period. Institutional investors own 78.11% of the company’s stock.

Analyst Ratings Changes

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

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.