Radius Recycling, Inc. Plans Quarterly Dividend of $0.19 (NASDAQ:RDUS)

Radius Recycling, Inc. (NASDAQ:RDUS) declared a quarterly dividend on Wednesday, July 3rd, Wall Street Journal reports. Shareholders of record on Monday, July 22nd will be paid a dividend of 0.1875 per share by the basic materials company on Monday, August 5th. This represents a $0.75 annualized dividend and a yield of 4.72%. The ex-dividend date is Monday, July 22nd.

Radius Recycling has a payout ratio of 123.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Radius Recycling to earn $0.35 per share next year, which means the company may not be able to cover its $0.75 annual dividend with an expected future payout ratio of 214.3%.

Radius Recycling Trading Up 8.2 %

RDUS traded up $1.21 during trading on Wednesday, hitting $15.88. The company’s stock had a trading volume of 303,878 shares, compared to its average volume of 242,469. Radius Recycling has a twelve month low of $12.69 and a twelve month high of $36.64. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $16.85 and its 200-day moving average price is $21.21. The firm has a market capitalization of $444.32 million, a P/E ratio of -6.81 and a beta of 1.56.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.07. The firm had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The company’s revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. Analysts anticipate that Radius Recycling will post -3.32 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on RDUS shares. Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a report on Thursday, May 30th. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd.

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.