Reliance Steel & Aluminum Co. (RS) Expected to Post Earnings of $1.38 Per Share

Equities research analysts expect Reliance Steel & Aluminum Co. (NYSE:RS) to announce earnings per share (EPS) of $1.38 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Reliance Steel & Aluminum Co.’s earnings, with the highest EPS estimate coming in at $1.39 and the lowest estimate coming in at $1.36. Reliance Steel & Aluminum Co. posted earnings per share of $1.36 during the same quarter last year, which indicates a positive year over year growth rate of 1.5%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, July 27th.

According to Zacks, analysts expect that Reliance Steel & Aluminum Co. will report full-year earnings of $5.35 per share for the current financial year, with EPS estimates ranging from $5.10 to $5.50. For the next fiscal year, analysts expect that the firm will report earnings of $6.14 per share, with EPS estimates ranging from $5.70 to $6.34. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Reliance Steel & Aluminum Co..

Reliance Steel & Aluminum Co. (NYSE:RS) last issued its earnings results on Thursday, April 27th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. The firm had revenue of $2.42 billion during the quarter. Reliance Steel & Aluminum Co. had a net margin of 3.65% and a return on equity of 8.71%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS.

Several equities research analysts recently issued reports on RS shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research note on Saturday. Bank of America Corporation raised shares of Reliance Steel & Aluminum Co. from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, May 23rd. They noted that the move was a valuation call. Barclays PLC reaffirmed a “hold” rating and set a $59.00 price target on shares of Reliance Steel & Aluminum Co. in a research note on Monday, May 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $77.00 price target (down previously from $80.00) on shares of Reliance Steel & Aluminum Co. in a research note on Friday, April 28th. Finally, Longbow Research started coverage on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, April 19th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $81.88.

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Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded up 2.88% during trading on Friday, hitting $72.79. 638,147 shares of the company were exchanged. The stock has a market cap of $5.31 billion, a P/E ratio of 16.49 and a beta of 1.25. Reliance Steel & Aluminum Co. has a 12 month low of $65.10 and a 12 month high of $88.58. The company’s 50-day moving average price is $73.64 and its 200 day moving average price is $79.45.

The business also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, May 26th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, May 24th. Reliance Steel & Aluminum Co.’s payout ratio is currently 40.72%.

Large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al increased its stake in Reliance Steel & Aluminum Co. by 124.2% in the fourth quarter. Tudor Investment Corp Et Al now owns 10,315 shares of the industrial products company’s stock valued at $820,000 after buying an additional 5,715 shares during the last quarter. Two Sigma Investments LP bought a new stake in Reliance Steel & Aluminum Co. during the fourth quarter valued at $4,557,000. A.R.T. Advisors LLC bought a new stake in Reliance Steel & Aluminum Co. during the fourth quarter valued at $1,893,000. Menta Capital LLC bought a new stake in Reliance Steel & Aluminum Co. during the fourth quarter valued at $386,000. Finally, Renaissance Technologies LLC bought a new stake in Reliance Steel & Aluminum Co. during the fourth quarter valued at $12,306,000. 83.68% of the stock is owned by institutional investors.

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).

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

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