Reliance Steel & Aluminum Rating Reiterated by Zacks (RS)
Reliance Steel & Aluminum (NYSE:RS)‘s stock had its “neutral” rating reissued by Zacks in a research report issued to clients and investors on Monday. They currently have a $72.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 5.57% from the stock’s previous close.
Reliance Steel & Aluminum (NYSE:RS) traded up 1.77% on Monday, hitting $69.41. 274,981 shares of the company’s stock traded hands. Reliance Steel & Aluminum has a 1-year low of $65.50 and a 1-year high of $76.78. The stock’s 50-day moving average is $71.65 and its 200-day moving average is $71.21. The company has a market cap of $5.412 billion and a P/E ratio of 15.67.
Reliance Steel & Aluminum (NYSE:RS) last released its earnings data on Thursday, July 24th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by $0.10. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Reliance Steel & Aluminum will post $5.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, August 13th.
In other Reliance Steel & Aluminum news, CEO David H. Hannah sold 9,907 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $68.12, for a total value of $674,864.84. The sale was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Jefferies Group raised their price target on shares of Reliance Steel & Aluminum from $74.00 to $76.00 in a research note on Monday, June 23rd. They now have a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $77.33.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
To view Zacks’ full report, visit Zacks’ official website.
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