Wall Street analysts forecast that Reliance Steel & Aluminum Co (NYSE:RS) will report sales of $2.78 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Reliance Steel & Aluminum’s earnings. The lowest sales estimate is $2.73 billion and the highest is $2.81 billion. Reliance Steel & Aluminum posted sales of $2.38 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.8%. The firm is scheduled to announce its next earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Reliance Steel & Aluminum will report full-year sales of $11.50 billion for the current fiscal year, with estimates ranging from $11.45 billion to $11.53 billion. For the next financial year, analysts expect that the company will report sales of $11.68 billion, with estimates ranging from $11.21 billion to $12.20 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Reliance Steel & Aluminum.

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

A number of analysts recently commented on RS shares. Bank of America lowered Reliance Steel & Aluminum from a “buy” rating to an “underperform” rating and set a $90.00 price objective on the stock. in a research note on Friday, September 7th. KeyCorp decreased their price objective on Reliance Steel & Aluminum from $100.00 to $97.00 and set a “buy” rating on the stock in a research note on Monday, September 10th. Longbow Research lowered Reliance Steel & Aluminum from a “buy” rating to a “neutral” rating in a research note on Monday, October 22nd. Zacks Investment Research lowered Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Macquarie set a $96.00 price objective on Reliance Steel & Aluminum and gave the company a “buy” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $95.30.

RS opened at $80.37 on Friday. The company has a current ratio of 4.40, a quick ratio of 1.92 and a debt-to-equity ratio of 0.39. The firm has a market cap of $5.75 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.94 and a beta of 1.15. Reliance Steel & Aluminum has a 52 week low of $74.12 and a 52 week high of $97.41.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, November 15th. Reliance Steel & Aluminum’s payout ratio is 36.76%.

A number of large investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC raised its holdings in shares of Reliance Steel & Aluminum by 107.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,445 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 750 shares during the period. Twin Tree Management LP purchased a new position in shares of Reliance Steel & Aluminum in the 3rd quarter worth about $174,000. Itau Unibanco Holding S.A. raised its holdings in shares of Reliance Steel & Aluminum by 130.1% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,391 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,352 shares during the period. Balasa Dinverno & Foltz LLC purchased a new position in shares of Reliance Steel & Aluminum in the 3rd quarter worth about $209,000. Finally, Private Advisor Group LLC purchased a new position in shares of Reliance Steel & Aluminum in the 3rd quarter worth about $231,000. 84.71% of the stock is currently owned by hedge funds and other institutional investors.

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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