Wall Street analysts expect Reliance Steel & Aluminum Co. (NYSE:RS) to announce $1.20 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Reliance Steel & Aluminum Co.’s earnings. The lowest EPS estimate is $1.14 and the highest is $1.30. Reliance Steel & Aluminum Co. reported earnings of $1.25 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, October 26th.

On average, analysts expect that Reliance Steel & Aluminum Co. will report full-year earnings of $5.08 per share for the current financial year, with EPS estimates ranging from $4.84 to $5.23. For the next financial year, analysts forecast that the business will post earnings of $5.98 per share, with EPS estimates ranging from $5.58 to $6.34. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Reliance Steel & Aluminum Co..

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate 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 research firms have weighed in on RS. Deutsche Bank AG reiterated a “buy” rating on shares of Reliance Steel & Aluminum Co. in a report on Saturday, June 24th. Zacks Investment Research upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Monday, October 16th. KeyCorp reiterated an “overweight” rating and issued a $81.00 price objective (down previously from $85.00) on shares of Reliance Steel & Aluminum Co. in a report on Monday, June 26th. Jefferies Group LLC reiterated a “hold” rating and issued a $72.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Friday, October 6th. Finally, Cowen and Company reiterated a “buy” rating and issued a $92.00 price objective on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.00.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in RS. Victory Capital Management Inc. lifted its stake in shares of Reliance Steel & Aluminum Co. by 27.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,718,818 shares of the industrial products company’s stock valued at $197,957,000 after purchasing an additional 591,272 shares during the period. Koch Industries Inc. purchased a new position in shares of Reliance Steel & Aluminum Co. in the 2nd quarter valued at approximately $393,000. FMR LLC lifted its stake in shares of Reliance Steel & Aluminum Co. by 820.5% in the 2nd quarter. FMR LLC now owns 433,536 shares of the industrial products company’s stock valued at $31,566,000 after purchasing an additional 386,436 shares during the period. Third Avenue Management LLC purchased a new position in shares of Reliance Steel & Aluminum Co. in the 2nd quarter valued at approximately $22,914,000. Finally, Pioneer Investment Management Inc. purchased a new position in shares of Reliance Steel & Aluminum Co. in the 2nd quarter valued at approximately $22,470,000. Institutional investors own 82.49% of the company’s stock.

Reliance Steel & Aluminum Co. (NYSE RS) traded up 1.54% during trading on Friday, hitting $77.12. The company had a trading volume of 371,739 shares. The company’s 50 day moving average price is $75.12 and its 200-day moving average price is $74.15. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 17.39 and a beta of 1.24. Reliance Steel & Aluminum Co. has a 1-year low of $66.63 and a 1-year high of $88.58.

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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