Equities research analysts predict that Reliance Steel & Aluminum Co. (NYSE:RS) will post sales of $2.29 billion for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Reliance Steel & Aluminum’s earnings, with the highest sales estimate coming in at $2.29 billion and the lowest estimate coming in at $2.28 billion. Reliance Steel & Aluminum posted sales of $2.06 billion during the same quarter last year, which would indicate a positive year over year growth rate of 11.2%. The firm is expected to report its next quarterly earnings report on Thursday, February 15th.

On average, analysts expect that Reliance Steel & Aluminum will report full year sales of $2.29 billion for the current fiscal year, with estimates ranging from $9.54 billion to $9.64 billion. For the next year, analysts forecast that the firm will post sales of $10.09 billion per share, with estimates ranging from $9.83 billion to $10.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last announced its earnings results on Thursday, October 26th. The industrial products company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. The business had revenue of $2.45 billion for the quarter. Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%. Reliance Steel & Aluminum’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share.

Several equities analysts recently issued reports on the company. Clarkson Capital restated a “buy” rating on shares of Reliance Steel & Aluminum in a research report on Wednesday, November 15th. Cowen restated a “buy” rating and issued a $92.00 target price on shares of Reliance Steel & Aluminum in a research note on Friday, September 1st. Zacks Investment Research upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Monday, October 16th. ValuEngine cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Bank of America restated a “buy” rating and issued a $89.00 target price (up previously from $88.00) on shares of Reliance Steel & Aluminum in a research note on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $82.00.

Reliance Steel & Aluminum (NYSE RS) opened at $78.61 on Friday. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. Reliance Steel & Aluminum has a 1 year low of $68.46 and a 1 year high of $88.58. The company has a market capitalization of $5,567.81, a PE ratio of 15.09, a PEG ratio of 1.63 and a beta of 1.28.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Thursday, November 16th. Reliance Steel & Aluminum’s payout ratio is currently 35.43%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Reliance Steel & Aluminum by 633.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,552 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 2,204 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Reliance Steel & Aluminum by 19.6% during the third quarter. Public Employees Retirement System of Ohio now owns 168,616 shares of the industrial products company’s stock valued at $12,843,000 after buying an additional 27,681 shares during the period. Hahn Capital Management LLC lifted its stake in shares of Reliance Steel & Aluminum by 1.0% during the third quarter. Hahn Capital Management LLC now owns 327,036 shares of the industrial products company’s stock valued at $24,910,000 after buying an additional 3,118 shares during the period. California Public Employees Retirement System raised its stake in shares of Reliance Steel & Aluminum by 9.1% in the 3rd quarter. California Public Employees Retirement System now owns 189,237 shares of the industrial products company’s stock valued at $14,414,000 after acquiring an additional 15,717 shares during the period. Finally, Zions Bancorporation acquired a new stake in Reliance Steel & Aluminum during the 3rd quarter valued at $144,000. Institutional investors own 82.30% of the company’s stock.

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About Reliance Steel & Aluminum

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 (NYSE:RS)

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