Reliance Steel & Aluminum Co. (RS) Updates Q1 Earnings Guidance
Reliance Steel & Aluminum Co. (NYSE:RS) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.20-1.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.37, AnalystRatingsNetwork reports.
On a related note, analysts at Bank of America upgraded shares of Reliance Steel & Aluminum Co. from a neutral rating to a buy rating in a research note on Tuesday, February 11th. They now have a $77.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $75.88.
Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 71.10 on Thursday. Reliance Steel & Aluminum Co. has a 52 week low of $59.44 and a 52 week high of $76.78. The stock has a 50-day moving average of $72.65 and a 200-day moving average of $72.64. The company has a market cap of $5.499 billion and a price-to-earnings ratio of 16.44.
Reliance Steel & Aluminum Co. (NYSE:RS) last released its earnings data on Tuesday, February 25th. The company reported $0.92 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.98 by $0.06. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.36 billion. On average, analysts predict that Reliance Steel & Aluminum Co. will post $4.36 earnings per share for the current fiscal year.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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