Wall Street brokerages expect Reliance Steel & Aluminum Co (NYSE:RS) to report sales of $2.72 billion for the current quarter, according to Zacks. Four analysts have made estimates for Reliance Steel & Aluminum’s earnings. The highest sales estimate is $2.80 billion and the lowest is $2.62 billion. Reliance Steel & Aluminum posted sales of $2.38 billion during the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The company is expected to announce its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that Reliance Steel & Aluminum will report full-year sales of $11.42 billion for the current financial year, with estimates ranging from $11.29 billion to $11.53 billion. For the next financial year, analysts forecast that the company will report sales of $11.56 billion, with estimates ranging from $11.05 billion to $12.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last issued its earnings results on Thursday, October 25th. The industrial products company reported $2.42 earnings per share for the quarter, missing the 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 business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.95 billion.

Several research analysts have commented on the company. Macquarie set a $96.00 price target on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research report on Friday. Longbow Research lowered Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research report on Monday, October 22nd. Citigroup lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Deutsche Bank lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and cut their price target for the stock from $100.00 to $90.00 in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $95.30.

In related news, Director David H. Hannah sold 25,000 shares of Reliance Steel & Aluminum stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $90.04, for a total value of $2,251,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.24% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in Reliance Steel & Aluminum by 166.3% during the second quarter. Millennium Management LLC now owns 461,240 shares of the industrial products company’s stock worth $40,377,000 after purchasing an additional 288,069 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Reliance Steel & Aluminum during the second quarter worth $20,471,000. Acadian Asset Management LLC boosted its position in Reliance Steel & Aluminum by 13.7% during the second quarter. Acadian Asset Management LLC now owns 1,637,282 shares of the industrial products company’s stock worth $143,324,000 after purchasing an additional 196,890 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Reliance Steel & Aluminum during the second quarter worth $15,509,000. Finally, First Quadrant L P CA boosted its position in Reliance Steel & Aluminum by 332.3% in the 3rd quarter. First Quadrant L P CA now owns 212,307 shares of the industrial products company’s stock worth $18,108,000 after purchasing an additional 163,193 shares in the last quarter. Hedge funds and other institutional investors own 81.09% of the company’s stock.

Shares of NYSE RS traded down $1.75 during midday trading on Tuesday, hitting $76.24. 816,975 shares of the company’s stock were exchanged, compared to its average volume of 652,727. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.76 and a current ratio of 4.40. Reliance Steel & Aluminum has a twelve month low of $72.69 and a twelve month high of $97.41. The firm has a market capitalization of $5.52 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 0.85 and a beta of 1.13.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.62%. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is presently 36.76%.

Reliance Steel & Aluminum Company Profile

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

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