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

Radius Recycling, Inc. (NASDAQ:RDUS) announced a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.1875 per share by the basic materials company on Tuesday, November 26th. This represents a $0.75 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Tuesday, November 12th.

Radius Recycling has a dividend payout ratio of -187.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Radius Recycling to earn ($1.02) 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 -73.5%.

Radius Recycling Stock Performance

RDUS stock traded down $0.40 during midday trading on Friday, reaching $15.94. 115,654 shares of the company’s stock traded hands, compared to its average volume of 222,135. Radius Recycling has a 52-week low of $12.69 and a 52-week high of $31.70. The stock has a market cap of $446.96 million, a P/E ratio of -1.68 and a beta of 1.53. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average is $16.62 and its 200 day moving average is $16.73.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.18. The business had revenue of $771.00 million during the quarter, compared to analyst estimates of $680.80 million. Radius Recycling had a negative net margin of 10.28% and a negative return on equity of 5.89%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, analysts anticipate that Radius Recycling will post -3.06 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Radius Recycling from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

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.