Equities research analysts expect that Reliance Steel & Aluminum Co. (NYSE:RS) will announce sales of $2.37 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Reliance Steel & Aluminum Co.’s earnings, with estimates ranging from $2.35 billion to $2.38 billion. Reliance Steel & Aluminum Co. reported sales of $2.19 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The company is expected to issue its next earnings results before the market opens on Thursday, October 26th.

According to Zacks, analysts expect that Reliance Steel & Aluminum Co. will report full-year sales of $2.37 billion for the current fiscal year, with estimates ranging from $9.48 billion to $9.55 billion. For the next year, analysts forecast that the firm will report sales of $10.06 billion per share, with estimates ranging from $9.83 billion to $10.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Reliance Steel & Aluminum Co..

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

RS has been the subject of a number of research reports. KeyCorp restated an “overweight” rating and set 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. BidaskClub upgraded shares of Reliance Steel & Aluminum Co. from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Jefferies Group LLC restated a “hold” rating and set a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research report on Wednesday, July 19th. Cowen and Company set a $92.00 target price on shares of Reliance Steel & Aluminum Co. and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Reliance Steel & Aluminum Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $82.00.

Large investors have recently bought and sold shares of the company. Global X Management Co. LLC raised its position in shares of Reliance Steel & Aluminum Co. by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock valued at $168,000 after buying an additional 1,584 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Reliance Steel & Aluminum Co. by 15.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock valued at $203,000 after buying an additional 382 shares during the last quarter. BB&T Securities LLC raised its position in shares of Reliance Steel & Aluminum Co. by 25.5% in the second quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock valued at $237,000 after buying an additional 664 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Reliance Steel & Aluminum Co. in the second quarter valued at approximately $252,000. Finally, Synovus Financial Corp raised its position in shares of Reliance Steel & Aluminum Co. by 3.1% in the second quarter. Synovus Financial Corp now owns 3,546 shares of the industrial products company’s stock valued at $259,000 after buying an additional 106 shares during the last quarter. 82.33% of the stock is owned by institutional investors and hedge funds.

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Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded up 1.23% during mid-day trading on Tuesday, reaching $77.28. 69,887 shares of the company traded hands. Reliance Steel & Aluminum Co. has a 52 week low of $66.63 and a 52 week high of $88.58. The stock’s 50-day moving average is $75.21 and its 200-day moving average is $74.06. The company has a market capitalization of $5.63 billion, a P/E ratio of 17.43 and a beta of 1.24.

Reliance Steel & Aluminum Co. Company Profile

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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