Radius Recycling (NASDAQ:RDUS) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Radius Recycling (NASDAQ:RDUS) issued 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. The business 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 5.89% and a negative net margin of 10.28%. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share.

Radius Recycling Trading Up 8.2 %

NASDAQ RDUS opened at $15.88 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96. Radius Recycling has a 52 week low of $12.69 and a 52 week high of $36.64. The business has a 50 day moving average price of $16.81 and a 200-day moving average price of $21.17.

Radius Recycling Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 22nd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Monday, July 22nd. Radius Recycling’s dividend payout ratio (DPR) is currently -32.89%.

Wall Street Analyst Weigh In

Several brokerages have commented on RDUS. Seaport Res Ptn raised shares of Radius Recycling from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 30th. StockNews.com raised shares of Radius Recycling from a “sell” rating to a “hold” rating in a research report on Wednesday.

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.