Reliance Steel & Aluminum Co. (RS) Issues Q1 Earnings Guidance
Reliance Steel & Aluminum Co. (NYSE:RS) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.25-1.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.33.
Reliance Steel & Aluminum Co. (NYSE:RS) opened at 87.61 on Friday. The firm’s 50-day moving average is $81.71 and its 200 day moving average is $76.42. Reliance Steel & Aluminum Co. has a 1-year low of $56.81 and a 1-year high of $88.58. The firm has a market cap of $6.36 billion, a PE ratio of 20.53 and a beta of 1.32.
Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results on Thursday, February 16th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.10. Reliance Steel & Aluminum Co. had a net margin of 3.63% and a return on equity of 8.10%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Reliance Steel & Aluminum Co.’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Reliance Steel & Aluminum Co. will post $4.40 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on RS shares. TheStreet lowered shares of Reliance Steel & Aluminum Co. from a buy rating to a hold rating in a research report on Thursday, October 20th. Jefferies Group LLC reiterated a hold rating and set a $70.00 price target (down previously from $72.00) on shares of Reliance Steel & Aluminum Co. in a research note on Monday, October 24th. Zacks Investment Research upgraded shares of Reliance Steel & Aluminum Co. from a sell rating to a hold rating in a research note on Thursday, October 27th. Deutsche Bank AG upgraded shares of Reliance Steel & Aluminum Co. from a hold rating to a buy rating and decreased their price target for the stock from $75.00 to $74.00 in a research note on Wednesday, November 9th. Finally, Macquarie downgraded shares of Reliance Steel & Aluminum Co. from an outperform rating to a neutral rating in a research note on Tuesday, November 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $82.10.
In other news, Director Andrew G. Sharkey III sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $81.33, for a total value of $243,990.00. Following the sale, the director now owns 4,693 shares in the company, valued at approximately $381,681.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William K. Sales, Jr. sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $81.56, for a total transaction of $2,039,000.00. Following the completion of the sale, the executive vice president now owns 102,843 shares in the company, valued at approximately $8,387,875.08. The disclosure for this sale can be found here. Insiders have sold 99,000 shares of company stock worth $8,345,660 in the last quarter. Corporate insiders own 3.73% of the company’s stock.
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Reliance Steel & Aluminum Co. Company Profile
Reliance Steel & Aluminum Co is a metals service center company. The Company operates through metals service centers segment. The Company’s network of metals service centers operates over 300 locations in approximately 40 states in the United States and in other countries, including Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom.
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