Radius Recycling (NASDAQ:RDUS) Announces Earnings Results

Radius Recycling (NASDAQ:RDUS) announced its quarterly 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. Radius Recycling had a positive return on equity of 1.97% and a negative net margin of 0.88%. The company had revenue of $621.06 million during the quarter, compared to the consensus estimate of $626.35 million. During the same period in the previous year, the business earned $0.14 EPS. Radius Recycling’s revenue for the quarter was down 17.8% on a year-over-year basis.

Radius Recycling Trading Down 2.7 %

NASDAQ:RDUS opened at $19.61 on Friday. The company has a market capitalization of $546.33 million, a PE ratio of -20.86 and a beta of 1.60. Radius Recycling has a 52-week low of $17.04 and a 52-week high of $36.64. The stock’s 50 day moving average price is $22.07 and its 200 day moving average price is $25.09. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors have recently modified their holdings of RDUS. Captrust Financial Advisors increased its position in Radius Recycling by 357.0% in the 2nd quarter. Captrust Financial Advisors now owns 754 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 589 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Radius Recycling by 123.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 469 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Radius Recycling in the second quarter valued at approximately $45,000. Point72 Middle East FZE purchased a new stake in shares of Radius Recycling during the second quarter worth approximately $54,000. Finally, Citigroup Inc. lifted its holdings in shares of Radius Recycling by 120.0% during the first 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. 78.11% of the stock is owned by institutional investors and hedge funds.

About Radius Recycling

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.