Reliance Steel & Aluminum Co. (RS) Expected to Post Earnings of $1.00 Per Share

Wall Street analysts predict that Reliance Steel & Aluminum Co. (NYSE:RS) will report $1.00 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Reliance Steel & Aluminum’s earnings, with the highest EPS estimate coming in at $1.04 and the lowest estimate coming in at $0.97. Reliance Steel & Aluminum reported earnings per share of $0.84 in the same quarter last year, which would suggest a positive year over year growth rate of 19%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, February 15th.

On average, analysts expect that Reliance Steel & Aluminum will report full year earnings of $5.22 per share for the current year, with EPS estimates ranging from $5.17 to $5.25. For the next financial year, analysts forecast that the business will report earnings of $6.52 per share, with EPS estimates ranging from $6.01 to $7.19. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Reliance Steel & Aluminum.

Reliance Steel & Aluminum (NYSE:RS) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). Reliance Steel & Aluminum had a return on equity of 8.61% and a net margin of 3.97%.

RS has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating and set a $92.00 target price on shares of Reliance Steel & Aluminum in a report on Wednesday, October 4th. Jefferies Group reaffirmed a “hold” rating and set a $72.00 target price on shares of Reliance Steel & Aluminum in a report on Friday, October 6th. Zacks Investment Research raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday, October 16th. ValuEngine raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $83.50.

Reliance Steel & Aluminum (RS) traded down $0.27 during mid-day trading on Friday, hitting $90.91. 275,757 shares of the company traded hands, compared to its average volume of 422,441. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 4.06. Reliance Steel & Aluminum has a 52 week low of $68.46 and a 52 week high of $92.18. The company has a market cap of $6,630.00, a price-to-earnings ratio of 17.86, a P/E/G ratio of 1.55 and a beta of 1.29.

In other Reliance Steel & Aluminum news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $82.69, for a total transaction of $92,860.87. Following the completion of the sale, the senior vice president now owns 15,320 shares of the company’s stock, valued at approximately $1,266,810.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.73% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RS. Ameriprise Financial Inc. boosted its position in Reliance Steel & Aluminum by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 369,719 shares of the industrial products company’s stock valued at $26,919,000 after buying an additional 15,733 shares during the period. BlackRock Inc. boosted its position in Reliance Steel & Aluminum by 4.2% during the 2nd quarter. BlackRock Inc. now owns 6,959,142 shares of the industrial products company’s stock valued at $506,694,000 after buying an additional 277,846 shares during the period. Amalgamated Bank boosted its position in Reliance Steel & Aluminum by 25.8% during the 2nd quarter. Amalgamated Bank now owns 13,914 shares of the industrial products company’s stock valued at $1,013,000 after buying an additional 2,851 shares during the period. Stevens Capital Management LP boosted its position in Reliance Steel & Aluminum by 263.4% during the 2nd quarter. Stevens Capital Management LP now owns 15,483 shares of the industrial products company’s stock valued at $1,127,000 after buying an additional 11,222 shares during the period. Finally, Laurion Capital Management LP boosted its position in Reliance Steel & Aluminum by 434.3% during the 2nd quarter. Laurion Capital Management LP now owns 18,700 shares of the industrial products company’s stock valued at $1,361,000 after buying an additional 15,200 shares during the period. 82.30% of the stock is owned by institutional investors and hedge funds.

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About Reliance Steel & Aluminum

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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