Wall Street brokerages expect Reliance Steel & Aluminum Co. (NYSE:RS) to report sales of $2.40 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Reliance Steel & Aluminum Co.’s earnings, with estimates ranging from $2.37 billion to $2.42 billion. Reliance Steel & Aluminum Co. posted sales of $2.19 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 26th.

On average, analysts expect that Reliance Steel & Aluminum Co. will report full-year sales of $2.40 billion for the current year, with estimates ranging from $9.54 billion to $9.69 billion. For the next financial year, analysts expect that the company will post sales of $10.04 billion per share, with estimates ranging from $9.83 billion to $10.33 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Reliance Steel & Aluminum Co..

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a return on equity of 8.67% and a net margin of 3.57%.

Several equities research analysts recently weighed in on RS shares. Bank of America Corporation raised shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, May 23rd. They noted that the move was a valuation call. BidaskClub raised shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research report on Saturday, June 24th. KeyCorp reaffirmed an “overweight” rating and issued a $81.00 target price (down previously from $85.00) on shares of Reliance Steel & Aluminum Co. in a research report on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $83.00.

Shares of Reliance Steel & Aluminum Co. (NYSE RS) opened at 72.45 on Friday. The firm’s 50-day moving average price is $72.06 and its 200-day moving average price is $75.18. Reliance Steel & Aluminum Co. has a one year low of $65.10 and a one year high of $88.58. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.34 and a beta of 1.23.

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 18th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Wednesday, August 16th. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is presently 40.54%.

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC grew its position in shares of Reliance Steel & Aluminum Co. by 3.3% during the 1st quarter. HighTower Advisors LLC now owns 35,869 shares of the industrial products company’s stock valued at $2,875,000 after acquiring an additional 1,159 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Reliance Steel & Aluminum Co. by 172.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 402,112 shares of the industrial products company’s stock valued at $29,278,000 after acquiring an additional 254,300 shares during the period. JPMorgan Chase & Co. grew its position in shares of Reliance Steel & Aluminum Co. by 1.0% during the 1st quarter. JPMorgan Chase & Co. now owns 371,030 shares of the industrial products company’s stock valued at $29,690,000 after acquiring an additional 3,704 shares during the period. BlackRock Inc. grew its position in shares of Reliance Steel & Aluminum Co. by 11,996.1% during the 1st quarter. BlackRock Inc. now owns 6,681,296 shares of the industrial products company’s stock valued at $534,635,000 after acquiring an additional 6,626,061 shares during the period. Finally, Morgan Stanley grew its position in shares of Reliance Steel & Aluminum Co. by 7.8% during the 1st quarter. Morgan Stanley now owns 185,574 shares of the industrial products company’s stock valued at $14,850,000 after acquiring an additional 13,366 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

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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).

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

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