Reliance Steel & Aluminum Co. (NYSE:RS) posted its earnings results on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11, Bloomberg Earnings reports. Reliance Steel & Aluminum Co. had a return on equity of 8.61% and a net margin of 3.97%. The firm had revenue of $2.45 billion for the quarter. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Reliance Steel & Aluminum Co. updated its Q4 guidance to $0.90-$1.00 EPS.
Shares of Reliance Steel & Aluminum Co. (RS) traded down $0.63 during trading on Friday, hitting $75.56. The stock had a trading volume of 386,100 shares, compared to its average volume of 496,403. The firm has a market capitalization of $5,555.42, a PE ratio of 15.06, a PEG ratio of 1.64 and a beta of 1.28. Reliance Steel & Aluminum Co. has a 1-year low of $68.46 and a 1-year high of $88.58. The company has a current ratio of 4.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.38%. Reliance Steel & Aluminum Co.’s dividend payout ratio (DPR) is presently 35.43%.
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Several brokerages have recently issued reports on RS. ValuEngine upgraded Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Jefferies Group LLC reiterated a “hold” rating and set a $72.00 price target on shares of Reliance Steel & Aluminum Co. in a research report on Friday, October 6th. Cowen and Company reiterated a “buy” rating and set a $92.00 price target on shares of Reliance Steel & Aluminum Co. in a research 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 research report on Monday, October 16th. Finally, Macquarie started coverage on Reliance Steel & Aluminum Co. in a report on Wednesday, September 6th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $82.00.
About Reliance Steel & Aluminum Co.
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).
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