Reliance Steel & Aluminum Co (NYSE:RS) – Investment analysts at KeyCorp dropped their FY2019 EPS estimates for shares of Reliance Steel & Aluminum in a report released on Tuesday, November 6th. KeyCorp analyst P. Gibbs now forecasts that the industrial products company will post earnings per share of $7.50 for the year, down from their previous estimate of $7.78. KeyCorp has a “Buy” rating and a $97.00 price objective on the stock.

RS has been the topic of a number of other research reports. Zacks Investment Research lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Citigroup started coverage on Reliance Steel & Aluminum in a report on Monday, September 17th. They set a “neutral” rating and a $90.00 price target on the stock. Longbow Research lowered Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a report on Monday, October 22nd. Bank of America lowered Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price target on the stock. in a report on Friday, September 7th. Finally, JPMorgan Chase & Co. raised their price target on Reliance Steel & Aluminum from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $95.30.

NYSE RS opened at $81.06 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.92 and a current ratio of 4.40. Reliance Steel & Aluminum has a 52-week low of $72.69 and a 52-week high of $97.41. The stock has a market cap of $5.83 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.96 and a beta of 1.15.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RS. Moneta Group Investment Advisors LLC lifted its position in Reliance Steel & Aluminum by 107.9% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 750 shares during the period. Twin Tree Management LP acquired a new stake in Reliance Steel & Aluminum in the third quarter valued at about $174,000. Itau Unibanco Holding S.A. lifted its position in Reliance Steel & Aluminum by 130.1% in the second quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 1,352 shares during the period. Balasa Dinverno & Foltz LLC acquired a new stake in Reliance Steel & Aluminum in the third quarter valued at about $209,000. Finally, Private Advisor Group LLC acquired a new stake in Reliance Steel & Aluminum in the third quarter valued at about $231,000. 81.25% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, November 15th. Reliance Steel & Aluminum’s dividend payout ratio is currently 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.

See Also: Cost of Capital Explained

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

Receive News & Ratings for Reliance Steel & Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.