Jefferies Group Weighs in on Reliance Steel & Aluminum Co’s Q1 2018 Earnings (RS)

Reliance Steel & Aluminum Co (NYSE:RS) – Equities researchers at Jefferies Group issued their Q1 2018 earnings estimates for shares of Reliance Steel & Aluminum in a note issued to investors on Thursday. Jefferies Group analyst S. Rosenfeld anticipates that the industrial products company will post earnings per share of $1.99 for the quarter. Jefferies Group also issued estimates for Reliance Steel & Aluminum’s Q2 2018 earnings at $1.90 EPS and FY2019 earnings at $8.00 EPS.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.22. Reliance Steel & Aluminum had a net margin of 6.31% and a return on equity of 9.00%. The business had revenue of $2.38 billion for the quarter. During the same period last year, the business earned $0.84 EPS. The firm’s revenue was up 15.3% on a year-over-year basis.

RS has been the topic of a number of other research reports. Bank of America set a $97.00 price objective on shares of Reliance Steel & Aluminum and gave the stock a “buy” rating in a report on Monday, January 8th. KeyCorp reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Reliance Steel & Aluminum in a report on Thursday, December 7th. ValuEngine raised shares of Reliance Steel & Aluminum from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Longbow Research raised shares of Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th. Finally, Zacks Investment Research cut shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.33.

Shares of Reliance Steel & Aluminum (NYSE:RS) opened at $92.72 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 1.88. Reliance Steel & Aluminum has a twelve month low of $68.46 and a twelve month high of $95.97. The firm has a market cap of $6,866.68, a PE ratio of 11.13, a P/E/G ratio of 1.60 and a beta of 1.26.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from Reliance Steel & Aluminum’s previous quarterly dividend of $0.45. Reliance Steel & Aluminum’s dividend payout ratio is currently 21.61%.

In related news, SVP William A. Smith II sold 1,123 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $82.69, for a total value of $92,860.87. Following the completion of the transaction, the senior vice president now owns 15,320 shares in the company, valued at approximately $1,266,810.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.18% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vident Investment Advisory LLC boosted its position in shares of Reliance Steel & Aluminum by 2.4% during the 4th quarter. Vident Investment Advisory LLC now owns 31,873 shares of the industrial products company’s stock valued at $2,734,000 after purchasing an additional 752 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Reliance Steel & Aluminum by 6.0% in the fourth quarter. Amalgamated Bank now owns 14,330 shares of the industrial products company’s stock worth $1,229,000 after buying an additional 813 shares during the period. Grove Bank & Trust boosted its holdings in shares of Reliance Steel & Aluminum by 117.8% in the third quarter. Grove Bank & Trust now owns 1,590 shares of the industrial products company’s stock worth $121,000 after buying an additional 860 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Reliance Steel & Aluminum by 11.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,476 shares of the industrial products company’s stock worth $727,000 after buying an additional 863 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in shares of Reliance Steel & Aluminum by 0.8% in the third quarter. Macquarie Group Ltd. now owns 111,910 shares of the industrial products company’s stock worth $8,525,000 after buying an additional 875 shares during the period. Institutional investors own 82.32% of the company’s stock.

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Reliance Steel & Aluminum 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).

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