Reliance Steel & Aluminum Given Average Rating of “Hold” by Analysts (NYSE:RS)
Reliance Steel & Aluminum (NYSE:RS) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the stock, American Banking News.com reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $77.33.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Reliance Steel & Aluminum in a research note on Monday, August 18th. They now have a $72.00 price target on the stock. 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.
Reliance Steel & Aluminum (NYSE:RS) traded down 0.17% during mid-day trading on Friday, hitting $69.6825. The stock had a trading volume of 5,824 shares. Reliance Steel & Aluminum has a one year low of $65.50 and a one year high of $76.78. The stock’s 50-day moving average is $70.72 and its 200-day moving average is $71.27. The company has a market cap of $5.433 billion and a price-to-earnings ratio of 16.04.
Reliance Steel & Aluminum (NYSE:RS) last released its earnings data on Thursday, July 24th. The company reported $1.30 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.14 earnings per share. Reliance Steel & Aluminum’s revenue was up 6.9% compared to the same quarter last year. Analysts expect that Reliance Steel & Aluminum will post $5.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, August 13th.
In other Reliance Steel & Aluminum news, CEO David H. Hannah sold 25,000 shares of the stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $70.16, for a total transaction of $1,754,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Reliance Steel & Aluminum Co (NYSE:RS) is the metals service center company in North America (United States and Canada).
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