Radius Recycling (NASDAQ:RDUS) Issues Quarterly Earnings Results

Radius Recycling (NASDAQ:RDUS) announced its quarterly earnings results on Tuesday. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.07, Briefing.com reports. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The business had revenue of $673.92 million during the quarter, compared to the consensus estimate of $693.90 million. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was down 16.8% on a year-over-year basis.

Radius Recycling Stock Performance

RDUS opened at $14.67 on Wednesday. Radius Recycling has a fifty-two week low of $12.69 and a fifty-two week high of $36.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. The stock has a fifty day moving average of $16.85 and a 200-day moving average of $21.21.

Analyst Ratings Changes

RDUS has been the subject of several research reports. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Seaport Res Ptn raised Radius Recycling from a “strong sell” rating to a “hold” rating in a report on Thursday, May 30th.

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.