Reliance Steel & Aluminum Co. (RS) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS
Reliance Steel & Aluminum Co. (NYSE:RS) posted its quarterly earnings results on Thursday. The company reported $1.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.24 by $0.05, Analyst Ratings.Net reports. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $1.09 earnings per share. Reliance Steel & Aluminum Co.’s revenue was up 26.1% compared to the same quarter last year. Reliance Steel & Aluminum Co. updated its Q2 guidance to $1.30-1.40 EPS.
A number of research firms have recently commented on RS. Analysts at Zacks reiterated a “neutral” rating on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, February 26th. They now have a $72.00 price target on the stock. 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $75.71.
Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded down 2.55% on Thursday, hitting $70.21. The stock had a trading volume of 292,838 shares. 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 $70.35 and a 200-day moving average of $72.41. The company has a market cap of $5.446 billion and a P/E ratio of 17.40.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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