Reliance (RS) Scheduled to Post Earnings on Thursday

Reliance (NYSE:RS) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Reliance to post earnings of $5.48 per share for the quarter. Reliance has set its Q1 guidance at $5.30-5.50 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Reliance (NYSE:RS) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.81. Reliance had a return on equity of 17.53% and a net margin of 9.02%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the business earned $5.87 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts expect Reliance to post $20 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Reliance Stock Down 0.2 %

RS stock opened at $322.37 on Thursday. The stock’s 50 day simple moving average is $323.53 and its 200 day simple moving average is $289.34. Reliance has a fifty-two week low of $229.12 and a fifty-two week high of $342.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.23 and a current ratio of 5.66. The company has a market cap of $18.51 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 5.73 and a beta of 0.87.

Reliance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $1.10 per share. This is an increase from Reliance’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 7th. Reliance’s dividend payout ratio is 19.46%.

Insiders Place Their Bets

In other Reliance news, CFO Arthur Ajemyan sold 3,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total transaction of $968,850.00. Following the sale, the chief financial officer now owns 15,577 shares in the company, valued at $5,030,592.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Reliance news, CFO Arthur Ajemyan sold 3,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $322.95, for a total transaction of $968,850.00. Following the sale, the chief financial officer now owns 15,577 shares in the company, valued at $5,030,592.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Donald Hoffman sold 40,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $322.95, for a total value of $12,918,000.00. Following the sale, the director now owns 54,042 shares in the company, valued at approximately $17,452,863.90. The disclosure for this sale can be found here. Insiders have sold a total of 85,996 shares of company stock worth $27,603,878 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Reliance

Institutional investors and hedge funds have recently made changes to their positions in the business. Worth Asset Management LLC purchased a new stake in Reliance during the first quarter valued at about $28,000. Penserra Capital Management LLC purchased a new stake in Reliance during the first quarter valued at about $46,000. Advisory Services Network LLC raised its position in Reliance by 160.0% during the first quarter. Advisory Services Network LLC now owns 221 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 136 shares in the last quarter. Atlas Capital Advisors LLC raised its position in Reliance by 131.7% during the first quarter. Atlas Capital Advisors LLC now owns 234 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 133 shares in the last quarter. Finally, Fortis Capital Advisors LLC raised its position in Reliance by 8,850.0% during the first quarter. Fortis Capital Advisors LLC now owns 358 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on RS shares. Citigroup lowered Reliance from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $280.00 to $380.00 in a report on Thursday, April 11th. BMO Capital Markets boosted their price objective on Reliance from $295.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, KeyCorp boosted their price objective on Reliance from $300.00 to $362.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $365.67.

About Reliance

Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.