Reliance Steel & Aluminum Co. (NYSE:RS) – Stock analysts at KeyCorp cut their Q2 2017 earnings per share (EPS) estimates for Reliance Steel & Aluminum Co. in a research report issued to clients and investors on Tuesday. KeyCorp analyst P. Gibbs now expects that the industrial products company will post earnings per share of $1.53 for the quarter, down from their previous forecast of $1.54. KeyCorp also issued estimates for Reliance Steel & Aluminum Co.’s FY2017 earnings at $5.25 EPS.

Reliance Steel & Aluminum Co. (NYSE:RS) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. The business had revenue of $2.42 billion for the quarter. Reliance Steel & Aluminum Co. had a return on equity of 8.71% and a net margin of 3.65%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS.

TRADEMARK VIOLATION WARNING: “Reliance Steel & Aluminum Co. to Post Q2 2017 Earnings of $1.53 Per Share, KeyCorp Forecasts (RS)” was posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/06/15/reliance-steel-aluminum-co-to-post-q2-2017-earnings-of-1-53-per-share-keycorp-forecasts-rs.html.

Earnings History and Estimates for Reliance Steel & Aluminum Co. (NYSE:RS)

RS has been the topic of several other research reports. Zacks Investment Research cut Reliance Steel & Aluminum Co. from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. Macquarie raised Reliance Steel & Aluminum Co. from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 14th. Bank of America Corporation raised Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, May 23rd. They noted that the move was a valuation call. Barclays PLC reaffirmed a “hold” rating and issued a $59.00 price target on shares of Reliance Steel & Aluminum Co. in a report on Monday, May 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $77.00 price target (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $83.25.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) opened at 74.57 on Thursday. The firm’s 50-day moving average price is $74.53 and its 200-day moving average price is $79.76. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The firm has a market cap of $5.43 billion, a PE ratio of 16.90 and a beta of 1.25.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, May 26th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, May 24th. Reliance Steel & Aluminum Co.’s payout ratio is 40.72%.

A number of institutional investors have recently bought and sold shares of the company. CrestPoint Capital Management LLC purchased a new position in Reliance Steel & Aluminum Co. during the first quarter valued at $208,000. Cigna Investments Inc. New purchased a new position in Reliance Steel & Aluminum Co. during the fourth quarter valued at $210,000. Private Advisor Group LLC purchased a new position in Reliance Steel & Aluminum Co. during the fourth quarter valued at $218,000. Two Sigma Securities LLC purchased a new position in Reliance Steel & Aluminum Co. during the first quarter valued at $248,000. Finally, Laurion Capital Management LP purchased a new position in Reliance Steel & Aluminum Co. during the first quarter valued at $280,000. Hedge funds and other institutional investors own 83.68% of the company’s stock.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

Receive News & Ratings for Reliance Steel & Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum Co. and related companies with MarketBeat.com's FREE daily email newsletter.