$1.83 EPS Expected for Reliance Steel & Aluminum Co (RS) This Quarter

Brokerages predict that Reliance Steel & Aluminum Co (NYSE:RS) will report $1.83 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Reliance Steel & Aluminum’s earnings, with the highest EPS estimate coming in at $1.87 and the lowest estimate coming in at $1.80. Reliance Steel & Aluminum reported earnings per share of $1.22 in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The firm is scheduled to announce its next earnings report on Thursday, February 21st.

On average, analysts expect that Reliance Steel & Aluminum will report full-year earnings of $9.64 per share for the current financial year, with EPS estimates ranging from $9.62 to $9.65. For the next year, analysts forecast that the company will post earnings of $8.28 per share, with EPS estimates ranging from $7.45 to $9.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.69 by ($0.27). Reliance Steel & Aluminum had a return on equity of 13.58% and a net margin of 7.66%. The company had revenue of $2.97 billion for the quarter.

RS has been the subject of a number of recent analyst reports. KeyCorp reissued a “buy” rating and issued a $90.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, November 30th. Zacks Investment Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. ValuEngine downgraded Reliance Steel & Aluminum from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Longbow Research downgraded Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a report on Monday, October 22nd. Finally, Citigroup initiated coverage on Reliance Steel & Aluminum in a report on Monday, September 17th. They issued a “neutral” rating and a $90.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $94.60.

Reliance Steel & Aluminum stock traded down $2.11 during midday trading on Friday, reaching $75.91. The company’s stock had a trading volume of 628,685 shares, compared to its average volume of 438,882. Reliance Steel & Aluminum has a fifty-two week low of $74.65 and a fifty-two week high of $97.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40. The company has a market cap of $5.50 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.

The company also recently declared a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 36.76%.

In other news, SVP William A. Smith II sold 5,582 shares of Reliance Steel & Aluminum stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $78.98, for a total transaction of $440,866.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David H. Hannah sold 28,080 shares of Reliance Steel & Aluminum stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $80.00, for a total value of $2,246,400.00. The disclosure for this sale can be found here. Insiders own 3.24% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RS. Aperio Group LLC increased its position in Reliance Steel & Aluminum by 28.6% during the 2nd quarter. Aperio Group LLC now owns 42,912 shares of the industrial products company’s stock worth $3,757,000 after purchasing an additional 9,550 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Reliance Steel & Aluminum during the 2nd quarter worth about $237,000. TD Asset Management Inc. increased its position in Reliance Steel & Aluminum by 85.6% during the 2nd quarter. TD Asset Management Inc. now owns 8,296 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 3,825 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in Reliance Steel & Aluminum by 3.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the industrial products company’s stock worth $1,418,000 after purchasing an additional 600 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Reliance Steel & Aluminum during the 2nd quarter worth about $1,709,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

About Reliance Steel & Aluminum

Reliance Steel & Aluminum Co operates as a metals service center company in the United States and internationally. The company provides steel, aluminum, stainless, and specialty metals and related processing services to customers in various industries, such as infrastructure and energy; fabricates steel and aluminum products; and provides various precision fabrication services, including laser cutting, shearing, computer numerated control (CNC) punching, and CNC forming and rolling, as well as welding, assembly, painting, inventory management, and engineering expertise.

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