Reliance Steel & Aluminum Co. Expected to Earn Q3 2017 Earnings of $1.15 Per Share (RS)

Reliance Steel & Aluminum Co. (NYSE:RS) – Research analysts at Jefferies Group decreased their Q3 2017 earnings per share estimates for shares of Reliance Steel & Aluminum Co. in a note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the industrial products company will post earnings per share of $1.15 for the quarter, down from their prior estimate of $1.23. Jefferies Group currently has a “Hold” rating and a $72.00 target price on the stock. Jefferies Group also issued estimates for Reliance Steel & Aluminum Co.’s Q4 2017 earnings at $0.77 EPS and FY2017 earnings at $4.84 EPS.



Several other brokerages also recently weighed in on RS. Cowen and Company reiterated a “buy” rating and issued a $92.00 price target on shares of Reliance Steel & Aluminum Co. in a report on Wednesday, October 4th. Zacks Investment Research upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday. Macquarie began coverage on Reliance Steel & Aluminum Co. in a report on Wednesday, September 6th. They issued an “outperform” rating on the stock. BidaskClub downgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $89.00 price target (up from $88.00) on shares of Reliance Steel & Aluminum Co. in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $82.00.

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Reliance Steel & Aluminum Co. (NYSE RS) opened at 75.96 on Thursday. The stock has a market capitalization of $5.54 billion, a PE ratio of 17.13 and a beta of 1.24. The stock’s 50 day moving average price is $74.90 and its 200 day moving average price is $74.16. Reliance Steel & Aluminum Co. has a 1-year low of $65.10 and a 1-year high of $88.58.

Reliance Steel & Aluminum Co. (NYSE:RS) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.45). Reliance Steel & Aluminum Co. had a net margin of 3.57% and a return on equity of 8.67%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global X Management Co. LLC increased its holdings in Reliance Steel & Aluminum Co. by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,304 shares of the industrial products company’s stock worth $168,000 after purchasing an additional 1,584 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Reliance Steel & Aluminum Co. by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,788 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 382 shares during the period. Two Sigma Securities LLC purchased a new position in Reliance Steel & Aluminum Co. during the 1st quarter worth $248,000. BB&T Securities LLC increased its holdings in Reliance Steel & Aluminum Co. by 25.5% during the 2nd quarter. BB&T Securities LLC now owns 3,266 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 664 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Reliance Steel & Aluminum Co. during the 2nd quarter worth $252,000. Institutional investors own 82.49% of the company’s stock.

Reliance Steel & Aluminum Co. Company Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

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

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