27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
BMO Capital Markets analyst Katja Jancic downgraded Ryerson Holding Corp (NYSE:RYI) from Outperform to Market Perform with a price target of $45.
The downgrade reflects the analyst's view that risk/reward for RYI shares has become more balanced, given its YTD share outperformance.
Also, Jancic sees limited near-term positive pricing or market-related catalysts to drive RYI's growth.
The analyst expects RYI to use FCF to reduce its debt levels further.
The analyst sees a weak H2 FY23 outlook, projecting a decline in steel and nickel prices in H2 FY23 and FY24, a weakness in aluminum prices, and a slowdown in RYI's high-exposure markets.
Nevertheless, the analyst applauds improvement in RYI's financial and operational position since its IPO in 2014 and expects further improvement over time.
The analyst estimates revenues and EPS of $5.334 billion and $3.95 (vs consensus of $3.83) in 2023.
Also, Jancic expects revenues and EPS of $4.652 billion and $4.05 (in line with the consensus) in 2024.
Price Action: RYI shares are trading lower by 4.6% at $42.05 on the last check Wednesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!