Reliance Steel & Aluminum (RS) Issues Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Reliance Steel & Aluminum (NYSE:RS) posted its quarterly earnings results on Thursday. The industrial products company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.22, Bloomberg Earnings reports. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.31 billion. Reliance Steel & Aluminum had a net margin of 3.97% and a return on equity of 8.61%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Reliance Steel & Aluminum updated its Q1 guidance to $1.90-2.00 EPS.

Reliance Steel & Aluminum (RS) opened at $88.59 on Thursday. 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 $92.64. The stock has a market cap of $6,292.59, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26.

Several research analysts have issued reports on RS shares. Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. ValuEngine upgraded shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Cowen reiterated a “buy” rating and set a $92.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, November 3rd. Clarkson Capital reiterated a “buy” rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. Finally, KeyCorp reiterated a “buy” rating and set a $84.00 target price on shares of Reliance Steel & Aluminum in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $83.50.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $82.69, for a total transaction of $92,860.87. Following the transaction, the senior vice president now directly owns 15,320 shares in the company, valued at approximately $1,266,810.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.73% of the stock is owned by corporate insiders.

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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).

Earnings History for Reliance Steel & Aluminum (NYSE:RS)

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