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

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

Radius Recycling Stock Performance

RDUS stock opened at $19.98 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 stock’s 50 day simple moving average is $21.95 and its 200 day simple moving average is $25.03. The firm has a market cap of $556.64 million, a P/E ratio of -8.76 and a beta of 1.60.

Radius Recycling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 22nd will be given 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 currently -32.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a report on Friday. Seaport Res Ptn lowered Radius Recycling from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 28th.

Institutional Investors Weigh In On Radius Recycling

Several large investors have recently added to or reduced their stakes in RDUS. JPMorgan Chase & Co. grew its stake in shares of Radius Recycling by 22.0% in the first quarter. JPMorgan Chase & Co. now owns 291,675 shares of the basic materials company’s stock worth $15,150,000 after purchasing an additional 52,677 shares in the last quarter. US Bancorp DE grew its stake in shares of Radius Recycling by 53.4% in the first quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 814 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Radius Recycling in the first quarter worth $246,000. MetLife Investment Management LLC grew its stake in shares of Radius Recycling by 60.6% in the first quarter. MetLife Investment Management LLC now owns 14,061 shares of the basic materials company’s stock worth $730,000 after purchasing an additional 5,304 shares in the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of Radius Recycling in the first quarter worth $1,989,000. 78.11% of the stock is owned by institutional investors and hedge funds.

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.